Uk Government announces new energy support scheme for businesses until end of March next year
The UK Government has promised to help businesses with their energy bills for another year, but significantly reduced the amount of support they will receive. Ministers said that non-domestic customers including businesses, charities and schools, will get up to £6.97 taken off their energy bills for every megawatt hour of gas they use.
The current scheme is set to cost the UK Government about £18 billion over just six months, compared with £5.5 billion over a whole year for the new plan. The Treasury said this provides long-term certainty for businesses and reflects how the scale of the challenge has changed since September last year.
Those businesses that are eligible will get a maximum discount of £40 per MWh of gas and £89.10 per MWh of electricity. It will apply to 70% of their energy use by volume. "Even though prices are falling, I am concerned this is not being passed on to businesses, so I've written to Ofgem asking for an update on whether further action is needed to make sure the market is working for businesses."
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