ENERGY PRICE GUARANTEE FOR BUSINESSES

On Wednesday, the Government announced its Energy Bill Relief Scheme providing a discount on the wholesale price of gas and electricity for all non-domestic customers including the majority of farm businesses.  The Government has set a Supported Wholesale Price fixed at 21.1p per kWh for electricity and 7.5p per kWh for gas. The scheme will apply to fixed contracts agreed on, or after, 1 April 2022, as well as to deemed, variable and flexible tariffs and contracts.  The discount will automatically be applied to bills for energy usage from 1 October 2022 for an initial six-month period.  There will be a review after three months to inform decisions on further support after March 2023. The price reduction for each business will depend on contract type and circumstances - for further information, please see the full press notice.