All UK businesses secure major energy support package to slash bills

    Wholesale energy costs for businesses will be slashed to less than half their expected price through the winter months, the government has announced.

    They will see government-funded cuts to their energy bills in line with the reductions that have already been announced for households.

    The level of discount will depend on what companies are already paying.

    Like the energy price guarantee for households, which also begins on that date, the move effectively puts a maximum price on the unit price cost of electricity and gas charged to businesses.

    Government borrowing will fund the bill for the difference, expected to run to tens of billions of pounds.

    The scheme will run for six months, with a review after three months to consider whether it should be extended or whether specific sectors require more targeted support.

    PM Liz Truss said of the package: "We know that businesses are very concerned about the level of their energy bills, that's why we are putting in place a scheme for business that will be equivalent to the scheme for households, to make sure that businesses are able to get through the winter, we're going to review it after six months.

    "We'll make sure that the most vulnerable businesses, like pubs, like shops, continue to be supported, after that."

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