The festival normally takes place on The Embankment in late August, and attracts thousands of people every year.
Last year the pandemic caused it to be cancelled - and today, it has been announced it has been called off again.
A spokesman said: “Just 12 months ago we were all looking forward to Peterborough CAMRA Beer Festival 2020 in eager anticipation of CAMRA’s busy August event and the opportunity to catch up with friends old and new over a few tasty bevvies whilst enjoying some of Peterborough’s finest musicians on the main stage.
“This didn’t happen for us in 2020 so we all looked forward to a different set of circumstances in 2021, but as we sit here in January it is clear that we will have to cancel PCBF 2021 as well.
“This has not been an easy decision to take, but is without doubt the correct decision AT THIS TIME. Let me just put some perspective on this, maybe a brief explanation.
“It costs CAMRA around £250,000 to build the site and get the infrastructure into place, before we even consider the cost of purchasing beers and other wet sales products, or consider staffing costs or the range of other behind the scenes activities. Many suppliers are national companies with long term commitments and overheads that require a substantial deposit from us in advance of the event taking place. We cannot take this financial risk given the current uncertainty. In addition, PCBF has to have the correct insurance cover in place but with COVID19 conditions needing to be included into insurance policies the costs and risks are beyond our means at this time.
“No one can be sure where we may find ourselves in late August, but one thing for certain is that many uncertainties will still prevail, even in 6 months’ time.
“The percentage of the public with up to date vaccinations, any new variants of the disease, group isolation/lockdowns and the possibility of legislation to close down events with little or no notice are factors that we have no control over.
“PCBF is said to be the Social Event of the Year for many of us and Peterborough CAMRA believe it is a MUST to protect members of the public as well as our 200+ staff from any potential unnecessary exposure to any risk from the virus. With around 27,000 visitors over the five days of the festival and a vaccination efficacy of 93% it could be possible for 200 persons to be infected simply by visiting the festival. We cannot risk the health of any visitors or staff unnecessarily.
“This IS NOT the end of Peterborough Beer Festival, once some semblance of normality returns and we are able to operate the event securely and safely, then we will do so. Please understand the difficulties we all currently find ourselves in. We will still need ALL OF YOUR support to get back on track when we are able.”