New support for businesses and public sector organisations facing rising energy bills across the UK have been unveiled by Business Secretary Jacob Rees-Mogg. The plans aim to support growth, prevent unnecessary insolvencies and protect jobs.
The Energy Bill Relief Scheme will see the UK Government provide a discount on wholesale gas and electricity prices for all non-domestic customers. This includes all UK businesses, the voluntary sector like charities and the public sector such as schools and hospitals, whose current gas and electricity prices have been significantly inflated in light of global energy prices.
This support will be equivalent to the Energy Price Guarantee put in place for households and will apply to fixed contracts agreed on or after April 1, 2022, as well as to deemed, variable and flexible tariffs and contracts. It will apply to energy usage from October 1, 2022 to March 31, 2023, running for an initial six month period for all non-domestic energy users.
