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Business energy bills could be cut by a third under government plan

Added 09-20-22 08:04:07pm EST - “Jacob Rees-Mogg is expected to announce a cap on wholesale energy costs for business customers.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Business energy bills could be cut by a third under government plan”. Below is an excerpt from the article.

Businesses could have their energy bills cut by a third under government support to be announced later.

Business Secretary Jacob Rees-Mogg is expected to reveal a cap on wholesale energy costs for business customers.

It is thought the limit will be 21.1p per kWh for electricity and 7.5p per KWh for gas - a discount of a quarter to a third on current market prices.

It means businesses facing an energy bill of £40,000 could see a reduction of £10,000 depending on usage patterns.

It is understood the changes will apply to contracts from 1 October and fixed contracts taken out since April, although show on bills from next month.

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