Hospital trust hit by £1.4m deficit due to soaring energy costs

North Tees and Hartlepool NHS Foundation Trust has said the deficit is the result of “inflationary pressures” relating to energy costs

Big Zero Report 2022

The energy crisis seems to have an impact on the UK’s health sector.

A hospital trust has predicted it will have a £1.4 million deficit this financial year as a result of “inflationary pressures” relating to energy costs.

In its latest public board report, North Tees and Hartlepool NHS Foundation Trust said utility spend, inflation costs and the rising cost of living, are to blame for its current financial position.

The latest official figures show that the rate of inflation has risen to a 40-year high of 9.1% last month.

The trust said: “Good control and mitigation in operational financial management and good grip in corporate financial management is therefore essential.”

This week, analysts predicted that the energy price cap could rise to £3,000 in the coming months.

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