Soaring energy prices "risk wiping out" Suffolk businesses as some firms have seen their bills jump by as much as 500%.

Business leaders in the county are calling for immediate help with spiralling gas and electric bills as companies struggle without a regulated price cap.

Ashley Simpson, commercial director of Bury St Edmunds manufacturing firm, Denny Bros, said the company had seen its gas and electric bill rise from £80,000 in 2021 to being quoted half a million for 2023.

Other businesses have reported similar increases.

A large motor dealership based in Ipswich has seen a 316% rise in its electricity control since August 2022.

As of June, a medium-sized accountancy practice from the town has been paying 252% more for gas, while a small Suffolk charity has seen a 159% rise in electricity.

"The quote we have been given for 2023 would represent a 525% increase in two years", said Mr Simpson.

"We've made our factory more environmentally friendly which should result in an energy reduction.

"If we're still being quoted figures like that, what on earth are businesses who don't have greener means of production or are on the breadline going to do?

"At this rate, businesses are going to fail and people will lose their jobs."

Paul Simon, from the Suffolk Chamber of Commerce, said soaring energy bills were creating a "toxic and malevolent environment" that "risks wiping out some of the county's business community unless both short and long term action is taken."

"Rising energy prices are putting intolerable burdens on otherwise resilient and successful Suffolk businesses," he said.

“Aside from such astronomical and growing price hikes, a number of our members whose contracts are up for renewal are finding that they cannot even get a quote from suppliers.

"This market failure means they do not know whether their business will still have the means to operate.

“In the next week or so, it is vital that the next Prime Minister and Government do not forget businesses. Suffolk Chamber is calling on the new administration to support the British Chambers of Commerce’s five-point energy plan as a matter of extreme urgency."