Businesses, charities, and the public sector will receive limited energy discounts from 1 April in a year-long £5.5bn package announced by the Chancellor
The new energy scheme will replace the current scheme ending in March and will run for a year. All eligible UK businesses and other non-domestic energy users will receive a discount on energy bills until 31 March 2024.
The latest data shows wholesale gas prices have fallen to levels seen just before Putin’s invasion of Ukraine and have almost halved since the current scheme was announced.
The government said the new scheme ‘strikes a balance between supporting businesses over the next 12 months and limiting taxpayer’s exposure to volatile energy markets, with a cap set at £5.5bn’.
From 1 April 2023 to 31 March 2024, eligible non-domestic customers who have a contract with a licensed energy supplier will see a unit discount of up to £6.97/MWh automatically applied to their gas bill and a unit discount of up to £19.61/MWh applied to their electricity bill, except for those benefitting from lower energy prices. The scheme will cover non-domestic customers in the UK.
