Following the Prime Minister’s announcement on the 8th September, the Government today is publishing further details on a new wave of support for businesses, charities, and public sector organisations.
Today, the Government has announced that through the Energy Bill Relief Scheme, they will provide a discount on wholesale gas and electricity prices for all non-domestic customers. This will be equivalent to the Energy Price Guarantee put in place for households.
To administrate support, the Government has set a Supported Wholesale Price – expected to be £211 per MWh for Electricity and £75 per MWh for gas, less than half the wholesale prices anticipated this winter. Suppliers will pass the reduction in the wholesale price through their customers.
This Scheme applies to all businesses who are on existing fixed price contracts agreed on or after 1st of April 2022. Additionally, the Scheme will run initially for 6 months covering energy use from the 1st of October 2022 until 31st March 2023. The Government will publish a review of the scheme after 3 months, which will consider how best to offer further support for customers if needed.