GovWire

The Government is today, 9th January 2023, announcing a new business energy scheme from 1 April 2023 to 31 March 2024 for eligible non-domestic consumers in Great Britain and Northern Ireland.

The government has been clear that current levels of support were time-limited and intended as a bridge to allow businesses to adapt. Wholesale gas prices have now fallen to levels just before Putins invasion of Ukraine and have almost halved since the current scheme was announced.

The new scheme therefore strikes a balance between supporting businesses over the next 12 months and limiting taxpayers exposure to volatile energy markets, with a cap set at 5.5 billion based on estimated volumes.