Business sector gives cautious welcome to government’s energy plans
Businesses have today (September 21, 2022) been given a degree of certainty on energy bills following the announcement by the government of measures to curb rising costs.
Valid from October 1, the government’s Energy Bill Relief Scheme is a six-month plan for businesses and other non-domestic energy users to receive a discount on wholesale gas and electricity prices on fixed contracts agreed on or after 1 April 2022, plus deemed, variable and flexible tariffs and contracts, subject to a review after three months.
The government mandated Supported Wholesale Price is expected to be £211 per MWh for electricity and £75 per MWh for gas, which is less than half the wholesale prices anticipated this winter.
Today’s announcement follows the Energy Price Guarantee for household energy users announced in parliament on September 8 by PM Liz Truss.
Under these plans, suppliers are limited to what they can charge for units of gas and government estimates that a typical UK household will pay no more than £2,500 annually on their energy bill for two years from October 1st. Further savings from both schemes will come with temporarily removing green levies.
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