The government has announced plans to introduce a cap on wholesale energy bills for businesses.
The Energy Bill Relief Scheme will see wholesale energy prices for all firms capped for six months from 1 October. The further intervention in the energy market comes after the government announced a £150bn plan to help households with bills for two years. Officials have not put an overall price tag of the latest subsidy to firms as the ultimate cost will depend on what happens to the wholesale market price between October and April, when the support expires.
Under the scheme, revealed by the Department for Business, Energy and Industry, wholesale prices will be fixed for all non-domestic energy customers at 21.1p per kWh for electricity and 7.5p per KWh for gas for six months. Firms do not need to contact suppliers as this will be automatically applied to [email protected] include a contact number if you are willing to speak to a BBC journalist.