Monday, May 27, 2024

Business energy prices to be cut by half expected levels

ENERGY bills for UK businesses will be cut by around half their predicted level this winter under a huge government support package reports the BBC.

The scheme will fix gas and electricity prices for companies for six months from 1 October, in a bid to stop firms facing soaring costs from going bust.

Hospitals, schools and charities will also get help, the government said.

It comes after ministers announced a £150bn plan to help households with their soaring bills for two years.

Industry groups welcomed the package but warned further support may be needed after the winter.

It is understood the scheme will be reviewed after three months with an option to extend support for “vulnerable businesses” – but it is not known what sectors come under the category.

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