On Wednesday 21st September 2022, the Government detailed its plans to support businesses cope with rising energy bills.
The Energy Bill Relief Scheme will come into force on the 1st October and discount the unit cost for gas and electricity use. The support will cap the cost of energy at 21.1p per kWh for electricity and 7.5p per KWh for gas.
The changes will apply to contracts from 1 October and fixed contracts taken out since April, although show on bills from October.
The support will be in place for an initial six month period (until April 2023). After which time it is believed there will be further support for the most vulnerable parts of the economy, with the Government indicating that Hospitality will be supported specifically.
In the meantime, the Treasury will complete a review which will determine which sectors will receive this ongoing support after the initial six months.