Government announces support package for businesses Sep 22, 2022

After Liz Truss announce the Energy Price Guarantee, those on non-domestic contracts were left to wonder what equivalent support would be made available to them.

The Energy Bill Relief Scheme has been newly introduced as a type of discount for businesses, voluntary sector organisations and public sector organisations.

This includes schools, hospitals and care homes.

Energy and gas prices reduced by over half

Prices will now be capped at £211 per megawatt hour of electricity, and £75 per megawatt hour for gas.

This discount is referred to as the 'government supported price'.

With the estimated wholesale prices at £600 and £180 respectively, the prices are reduce at over half, with electricity costing almost two thirds less than originally estimated.

"...Continued support if necessary."

As with the Energy Price Guarantee, the ultimate cost of energy bills is dependent on usage, as the discount applies to the unit price of energy rather than the overall price of consumption.

When discussing the plans, Jacob Rees-Mogg declined to speak about future plans, deeming it 'not right' to do so.

However, he suggested there may be changes to the plan if needed, stating:

"We will review this in three months time to ensure continued support if necessary."

You can read over the full scheme here.

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