According to a survey by the German Chamber of Commerce and Industry (DIHK), over 50 percent of German businesses believe the transition toward renewable energy and away from cheap Russian energy products will economically harm their businesses.

The energy transition barometer issued by the DIHK, released on Tuesday, showed that on a scale of negative 100 (“very negative”) to positive 100 (“very positive”), the value of the barometer is negative 27, marking the lowest reading seen since the survey was first run in 2012.

DIHK deputy managing director Achim Dercks said, “The confidence of German business in energy policy has currently sunk to a low point. Worries about their own competitiveness have never been greater.”

The survey also showed that more and more companies are looking at leaving the country as time goes on. Among industrial companies, nearly one third are making plans to move industrial production overseas, or to reduce it domestically, which is twice the figure of 16% seen last year.

Of those, 5.2% have already begun to take steps to relocate or reduce production, 10.5% have measures in progress, and 16% have established plans to do so.

Dercks warned, “In view of the great importance of industry for Germany as a business location, these figures are alarming.”

He noted that German companies are primarily concerned about the tight energy market in the country, and even in the medium and long term, now that the cheap Russian energy products are no longer available.

The poll consisted of responses from over 3,500 companies from all sectors and regions of the country.