21 September 2022 - Government announces plans to introduce a cap on wholesale energy bills for businesses.
- Government unveils The Energy Bill Relief Scheme which will see wholesale energy prices for all firms capped for six months from October 1.
- Under the scheme, revealed by the Department for Business, Energy and Industry (BEIS), wholesale prices are expected to be fixed for all non-domestic energy customers at £211 per MWh for electricity and £75 per MWh for gas. It will apply to energy usage from
1 October 2022 to 31 March 2023. Firms do not need to contact suppliers as this will be automatically applied to them.
- The scheme will also apply to fixed contracts agreed on or after 1 April and variable and flexible tariffs and contracts.
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