We have seen an unprecedented rise in energy prices following Putin’s illegal war in Ukraine. Though this is a global problem, I understand this crisis has affected businesses of all sizes Great Yarmouth.
That is why I was pleased to hear the Government announce their Energy Bill Relief Scheme recently – providing businesses, charities, schools and hospitals with a discount on wholesale gas and electricity prices worth up to half the price of expected energy prices this winter, giving business owners certainty on their bills until the end of March 2023.
It will apply to fixed contracts agreed on or after 1st April 2022, as well as to deemed, variable and flexible tariffs and contracts. It will apply to energy usage from 1st October 2022 to 31st March 2023, running for an initial 6 month period for all non-domestic energy users. The savings will be first seen in October bills, which are typically received in November.
As with the Energy Price Guarantee for households, businesses do not need to take action or apply to the scheme to access the support. Support (in the form of a p/kWh discount) will automatically be applied to bills.
Details on what the level of price reduction for each business will be can be found here: https://www.gov.uk/government/news/government-outlines-plans-to-help-cut-energy-bills-for-businesses.
Commenting on this further support from the Conservative Government; Martin McTague, National Chair of the Federation of Small Businesses, said:
Small businesses called for decisive action – now the government is delivering. With small firms the least able to avoid closure and 16 million employees relying on them, Ministers have listened to our community and got this big call right. Now it’s up to energy retailers to live up to the high bar set today and make sure this help reaches those on the ground.
This, alongside the measures the Government are taking to boost the amount of domestic energy we produce, will increase growth, protect jobs and support businesses in Great Yarmouth with their bills this winter.
