A new scheme to help businesses with their rising energy bills is set to be unveiled in the House of Commons today (Monday, January 9).
The scheme is expected to be significantly less than the current Energy Support Plan, which Chancellor Jeremy Hunt described as "unsustainably expensive". The current cap on the cost of a unit of electricity or gas for businesses will expire in March, and the government has faced calls from across the business sector for a continuation of the support.
Sources have told PA that the replacement scheme will give a discount on wholesale prices, not a fixed price, with very heavy energy-using sectors – such as steel, glass and ceramics industries – getting a larger discount than other businesses. The new scheme is set to last an additional year, until March 2024.
