Business energy support update postponed

Article posted

22nd Dec 2022

Read time

2-4 min read


Mollie Pinnington

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Whilst we know many businesses were hoping to hear what support they can expect in terms of energy bills before Christmas. Unfortunately, the government have now announced that there is not going to be an update on energy bills until the new year.

With the energy bill support, energy prices for companies have been fixed from October and will remain fixed until April 2023. The government had promised to give an update before the end of the year, however, they have now delayed this till the beginning of 2023.

Certainty was needed for businesses to be prepared for the year ahead.

The energy relief scheme had provided a lifeline for many businesses over the past few months. Without this, the rising energy costs could possibly of caused businesses to go bust.

Even though the energy bill relief scheme was much needed for businesses, it is a major strain on government finances and the taxpayer. Due to this, the government are looking for ways to continue supporting businesses but reduce the number of businesses receiving support so vulnerable businesses are getting the support they need.

The reason that an update on the support has been postponed is that the government are still reviewing ways to reduce public finances when it comes to energy support. The treasury is also looking for ways to lower costs for the public as the rising cost of energy has put the UK in a cost-of-living crisis.

The Treasury has said that businesses will receive an update early in the new year to ensure that businesses have sufficient certainty about future support before the current scheme ends in March 2023.

However, even though the Treasury has said businesses can expect an update in the new year this still leaves businesses uncertain over the festive period and unable to plan to go into January.


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