Business Secretary Jacob Rees-Mogg has today announced a raft of new measures to help support businesses with their energy costs.
The proposals are a clear step in the right direction and will come as a relief to businesses who have been hugely concerned about energy prices that have sored exponentially during recent months.
Through a new government Energy Bill Relief Scheme, the government will provide a discount on wholesale gas and electricity prices for all non-domestic customers, including all businesses, whose current gas and electricity prices have been significantly inflated in light of global energy prices.
This is the equivalent support package to the Energy Price Guarantee put in place for households and the level of price reduction for each business will vary depending on their contract type and circumstances.
Savings will be first seen in October bills, which are typically received in November and, as with the Energy Price Guarantee for households, customers do not need to take action or apply to the scheme to access the support.
There will I’m sure be many businesses who will still struggle to pay their overheads despite this government intervention – and the Chancellor must prioritise those firms in his mini-budget on Friday.
The Government must now issue further support packages beyond the energy scheme so that Staffordshire businesses can continue to plan for the future.
If you want to talk to us about any business issues, you can call our switchboard on 01782 202222.
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