Support for business energy bills under the current Government scheme is to be cut from April 2023. A new scheme, the Energy Bills Discount Scheme (EBDS) will run for 12 months from 1st of April 2023 to 31st March 2024 where eligible businesses, public sector organisations and charities will benefit from a per-unit discount on bills.
The government said that such levels of support were time-limited and intended as a bridge to allow businesses to adapt. The latest data shows wholesale gas prices have now fallen to levels just before Putinโs invasion of Ukraine and have almost halved since the current scheme was announced which is good news. Warmer weather and high wind speeds this winter resulted in the demand for gas decreasing while supply stores remain at good levels. This caused short-term wholesale prices to drop. However, experts warn that bills are not likely to come down โfor the next two or three yearsโ.
Click here to read the January Energy report which makes interesting reading.