Dartmoor Zoo has claimed its annual electricity bill could go up by £130,000 later this year.
The zoo's current electricity bill is about £40,000 per year, but when its contract ends in November, it says it could rise to more than £170,000.
Coral Jonas, Dartmoor Zoo's chief operating officer, said the zoo was looking at alternative options such as renewable energy.
Dartmoor Zoological Park is located in Sparkwell, on the edge of Dartmoor.
Ms Jonas said she had been quoted more than £170,000 a year for electricity when her current contract runs out later in 2023.
Businesses across the UK have expressed concern about the prospect of increased energy prices in 2023.
She said: "It's a scary, scary figure for a small charity like us, and you know the next stage is looking at renewable energy. How can we get that renewable energy without putting massive upfront costs in place first?"
Ms Jonas said the zoo was experiencing "incredibly trying times".
She said all of the zoo's bills were increasing, including the cost of feeding the animals.
"Every single thing on our accounts, it's all rising," she said.
"Last year was quite phenomenal, where we saw just everything go up, and we had to go over budget on so many things because of the cost of living."
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