Business energy bills could be cut by a third under government plan
Energy bills for UK businesses will be cut by around half their expected level this winter under a huge government support package.
It is hoped the latest support will prevent mass bankruptcies and job losses, but some industries have warned further support may be needed after the winter. Prime Minister Liz Truss said the government understood the "huge pressure businesses, charities and public sector organisations are facing with their energy bills".
Energy-intensive industries such as steel manufacturers have raised concerns about their energy costs, which have surged following Russia's invasion of Ukraine. But many others - particularly those in retail and hospitality - may see this giving them a fighting chance over the commercially crucial Christmas trading period.
"Government has delivered a scheme which is simple to understand, giving reassurance to the business sector and making immediately available the much-needed help companies have been calling for across the board at a time energy costs were spiralling out of control."