Portsmouth music venue The Wedgewood Rooms calls for help as it faces 318 per cent spike in energy bills

The venue in Albert Road had been paying British Gas for its electricity bill, which had been around £1,200 a month.

Now manager Geoff Priestley says that the business is facing bills of up to £3818 per month.

He said: ‘The best offer I had via a broker was four weeks ago – I was quoted 50.6p/ kWh but this was if I signed up for this rate for the next four years.

‘This is is a 318 per cent increase making my electricity bill around £3,818 per month. This is not sustainable for us as a business with tight margins.

‘Last week I went to a broker who was unable to get me any deal as I am in the hospitality sector.

‘I have no choice at the moment other than to stay with British Gas on their (variable) price plan as I am out of contract.’

It comes just two years after the venue was the subject of a desperate crowdfunding campaign to keep it afloat as it closed due to Covid-19 restrictions.

More than £12,000 was raised in less than week – but Geoff fears this fresh crisis will need more than community support.

He said: ‘Everyone is going to be facing hardships in the coming months. Most small business will be in the same boat – if not, they will be soon.

‘Customers will also be facing hardships too. It is too complicated to add money to a ticket to cover this, and increasing the price of drinks at the bar could also have negative consequences.

‘I gather the government are planning a reduction in business rates and a drop in VAT – this will go some way to offset the massive price increases, but obviously it will depend on what the reductions are.’

The popular venue has been a stepping-stone to stardom for various acts for more than 30 years, hosting bands including Oasis, Pulp, Muse, The Strokes, and more recently Isle Of Wight indie rockers Wet Leg.