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."
Well done trussliz Impressively prompt response.
If the gas (raw material) prices are the cause for price hikes, how come all energy companies are raising standing charges (maintenance costs)? Gas pipe cost gone up too? energyprices EnergyCrisis ohreally
An utterly misleading headline.....as usual.
Here they go divide and conquer looking after their mates business and shafting the public
Key word is ‘business’. Whatever revenue energy companies lose with this cap will simply be passed on the individual consumers. No loss to them, greater hardship for everyone else.
Now they have get money for Ukrainian no time for UK issues..
It's a very expensive loan, repayment amounts and details will be announced when the time is right, exactly the same as the domestic arrangement. The public will have to pay for their own, but businesses will simply increase costs, therefore the public will pay theirs as well.
Okay I didn’t see that coming
Why should we, the U.K. taxpayers and businesses who actually pay corporation tax in the U.K. be subsidising the big energy companies who are making record profits? getthetoriesout
Good news for businesses.
And tomorrow we'll be looking through the triangular window - Hooray!
It's the projected *rise* in energy bills that could be cut. Energy bills themselves are not being cut. There will still be a stupendous rise. This is poorly phrased and creates false hope.
How will it all be paid for ? ....more borrowing to be paid back by future generations. It's a never ending nightmare.
Truss said we will boost homegrown energy supply to fix the root cause of the problem. By that I assume that she means fracking 😂
Utterly bizarre way to position this story - energy bills are still going to be through the roof.
A third still doesn’t sold the real issue though does it? Businesses Bills have and will more than double relative to this time last year yet we’re supposed to be grateful, say thank you and accept whatever we’re lucky enough to be given? EnoughlsEnough
Sounds like it’s not a third less of the current rise, but a third less of the rise after October. It might mean they aren’t going to rise as fast but still rise. Dress it up however they want, my bill has gone from £700 a year to £2000, minus £400 the government have promised.
Looking after the corporations huh ? Nothing ever changes
Tax payers picking up the bills for corporate profits?
Crisis for so many.
1 $ETH and 10 $SOL divided by 4 🏆 Winners To enter: 1. Retweet 2. Follow me 3. Drop Wallet Address
Good 🧐🙂👍
we need your help , mahsaamini was killed in iran due to not wearing hijab properly and now the tyrannical regime killing people for protesting, the regime cut the internet off and now they don’t have access to the internet , please be our voice and spread the words