UK government working on energy aid scheme for businesses

UK government working on energy aid scheme for businesses


Photo: ANP

The British government wants to keep energy bills under corporate governance. This can be done by giving a discount on the invoice. London is said to be working on a plan that would bring businesses’ energy bills more in line with what households pay for energy. This was reported by an insider familiar with the plans against Bloomberg News. These efforts are part of a £40 billion rescue package currently being finalized by Prime Minister Liz Truss.

The bailout would reduce wholesale prices included in commercial energy contracts. This is then determined by the same amount charged to families. That could mean a discount of about 50% for companies that recently secured their contracts.

The energy crisis has driven up the costs of running factories and turning on lights in stores across the UK. Small businesses are already taking drastic measures to contain costs as some energy bills are up to tenfold.

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