The support is in addition to the Energy Price Guarantee for households which starts in October
New support for businesses and public sector organisations facing rising energy bills across the UK have been unveiled by Business Secretary Jacob Rees-Mogg. The plans aim to support growth, prevent unnecessary insolvencies and protect jobs.
“Any such activity will result in support being refundable to government and may be liable to further penalties.” The guidance on GOV.UK explains: “The designs of the GB scheme and the separate Northern Ireland scheme will be consistent, and will offer an equivalent level of support, but the impact on users will vary in Northern Ireland in particular since there are only limited numbers of fixed price contracts in the market.”
The Uk Government will compensate suppliers for the reduction in wholesale gas and electricity unit prices that they are passing onto non-domestic customers. Businesses on variable / flexible contracts will need to choose if they move to fixed contracts. This is likely to suit you if you don’t want to be exposed to price variation. You will be contacted by your supplier.
How you will get the reduction The support will be automatically applied to all eligible bills. You do not need to take action or apply to the scheme. Your per unit energy costs will automatically be reduced by the relevant pence per Kilowatt Hour for the duration of the scheme. If wholesale prices rise above the combined government supported price and maximum discount then your prices will increase.
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