Government extends support package to businesses

ILC ARTICLE

22nd September 2022

The government has announced a substantial support package that should see energy bills for UK businesses halved this winter.

The new scheme, which follows the £150bn plan for households, will take affect from 1 October and remain in place for six months, although it could be extended for vulnerable businesses.

As part of the plan, wholesale prices will be fixed at £211 per MWh for electricity and £75 per MWh for gas.

Prime Minister Liz Truss said, “As we are doing for consumers, our new scheme will keep their energy bills down from October, providing certainty and peace of mind. At the same time, we are boosting Britain’s homegrown energy supply so we fix the root cause of the issues we are facing and ensure greater energy security for us all.”