Businesses will receive reduced support for their energy bills from April as the
UK government attempts to cut the cost of compensating for soaring gas and
electricity prices, the Treasury has confirmed.
The Treasury said that the government will cap support at £5.5 billion for
businesses over 12 months from 1 April 2023.
Bills will automatically be discounted by up to £6.97 per megawatt hour (MWh) for
gas bills and by up to £19.61 per MWh for electricity bills, a statement said.
Heavy energy-using sectors, like glass, ceramics and steelmakers will receive a
discount reflecting the difference between a price threshold and the relevant
wholesale price.
The energy support scheme is mainly used by businesses but is also for charities
and public sector organisations such as schools and hospitals.
Chancellor Jeremy Hunt said:
'My top priority is tackling the rising cost of living - something that both
families and businesses are struggling with.
'That means taking difficult decisions to bring down inflation while giving
as much support to families and business as we are able.'
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