BUSINESSES in Southampton have said more needs to be done after the Prime Minister revealed her plan to tackle rising energy bills.

Liz Truss yesterday announced a £150bn plan freezing household bills at the £2,500 mark, as the Government plans to ease the impact of the rising cost of living. Residents will be covered for two years - but businesses for six months.

The new cap is around £500 higher than current levels, however the price cap is set to rise by 80 per cent on October 1.

Once that rise happens, the £2,500 figure will be around £1,000 below the Ofgem price cap.

But Ivo Parkvshev, 42, and Petya Parvsheva, 41, owners of The Fish Station on East Street in the city centre, are facing devastation.

They have told of their shock after their energy bills tripled in price in just a few months, stating they might have to let employees go if things do not improve.  

Their once £600 energy bill has now skyrocketed to more than £2,000. 

They said they have "never seen anything like this", adding that they are "working for free" as they fail to bring in a profit. 

Petya told the Daily Echo: "We have been running the shop since 2009 and we have never seen the prices like this.

Daily Echo: NewsquestNewsquest (Image: Newsquest)

"We have never seen the price of fish, electricity, and oil have gone up like this. It’s the first time ever.

"This one of the things [the Government] could help with, cut the VAT we’re paying on our electricity for a year.

"When we’re paying this amount, we end up having no profit. Sometimes we’re on the minus, which means we’re working for free

"If the bills stay like, how are we going to manage?

"All of our machines use gas, all day were using gas. The grill works with gas, the boiler works in gas.

"The price of oil was £10, started going up since March, because of Ukraine now it’s £33 per packet.

"We’re going to have to fire one of our employees if things stay like this because we can’t run like this.

"When I called our electricity supplier, the person told me I wouldn’t find anything cheaper than the rate I have now and that I had the best deal and that they couldn’t make it cheaper.

"But if I have the best deal and it’s this high, how much more could it be."

Businesses who listened to the Prime Minister's announcement told the Echo more needs to be done to support them amid fears of many places closing down.

Mike Lawrence is the co-owner of new a new tapas restaurant in Woolston. 

Quayside opened its doors to the public this year and is the brainchild of Mike and Paul Nicholson. 

Daily Echo: Mike Lawrence and Paul Nicholson outside Quayside in Woolston.Mike Lawrence and Paul Nicholson outside Quayside in Woolston. (Image: Newsquest)

Mike said: "We are really trying. We've noticed that business has trailed off a little bit and we're trying to work out if that's just post-bank holiday or whether people are scared to spend. 

"Prices are going up, and you can't be putting your own prices up every week, something has to give. 

"There definitely should be a business relief rate for local businesses.

"We employ 17 people and all of those people need to be paid. 

"This is just local businesses, this is local families and the community."

Alex Sevincli, one of the managers at the Artsy Lounge, said: "The increase is affecting us massively because people are scared to go out these days, they're being very careful with how they are spending their money. 

"This is of course affecting the business as people who once went out a few times a week now only go out a few times a month. 

"I think there are so many things the Government did during Covid to support businesses, such as grants that are beneficial to businesses. 

"If they can do that, I'm sure there are things they can do to help businesses pay their bills.

"If things don't start to change, we will see lots of businesses close after Christmas if they don't get any help.

"Come the New Year, businesses will be shutting down."