120,000 firms at risk due to energy hikes - Confcommercio

(ANSA) - ROME, AUG 25 - Retail group Confcommercio said Thursday that some 120,000 firms are at risk of closure from now until the first half of next year due to energy hikes amid spiralling oil and gas prices due to the Ukraine war, as well as rising inflation.
    The energy spiral and inflation running at over 8% and set to rise further, 80% due to the hikes in the prices of raw energy materials "jeopardizes from here to the first six months of 2023 around 120,000 businesses of the service sector," Confcommercio said.
    Some 370,000 jobs are at risk, it said.
    Service sector energy costs will amount to 33 billion euros in 2022, it said, triple 2021's 11 billion.
    It will also be more than double 2019's 14.9 billion.
    "It is a scenario that arouses strong concern," said Confcommercio, calling for more government aid to struggling businesses. (ANSA).