Energy Bills Discount Scheme Announced For Businesses
Government announces a change to energy support for businesses and public sector organisations in the UK. Here’s what you need to know.
Government announces the end to price cap support for businesses and public sector organisations with a new Energy Bills Discount Scheme set to start from:
1 April 2023 – 31 March 2024.
The Energy Bills Discount Scheme will come in to replace the Energy Bills Relief Scheme which ran for 6 months.
Support will be significantly reduced as the government hopes that wholesale energy prices will stabilise.
Unlike households, businesses that sign up for a fixed-rate deal are locked in and cannot shop around for a better deal. Many smaller firms that signed up for fixed-rate deals when prices began to rise are now deeply concerned about the reduction in support.
Likewise, some leisure centres and swimming pool operators are looking at running reduced hours, after being omitted from the highest levels of financial support for the most energy-intensive industries.
It is recommended that all businesses take regular gas and electricity meter readings, particularly at the end of day on 31st March 2023.
Who is eligible?
The new scheme will be available to everyone on a non-domestic contract including, businesses, voluntary sector organisations, such as charities and public sector organisations such as schools, hospitals, and care homes. See the Government’s website for full eligibility criteria.
If your businesses received the previous Energy Bill Relief scheme you will also be eligible for the new scheme.
There are two levels of discount:
•The higher discount is for Energy and Trade Intensive Industries (ETII)
•The lower discount is for all other qualifying businesses and organisations
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