Price cap means average household bills will not exceed £2500, with an “equivalent guarantee” on energy prices extended to businesses for six months
“Vulnerable” sectors, such as hospitality, likely to receive support for longer
BUSINESSES are to receive support on their energy bills for at least six months from 1st October, with hospitality potentially receiving longer-term support, the prime minister has announced.
Speaking in the House of Commons today (8th September), prime minister Liz Truss announced an “energy price guarantee” which she said will see the average household paying no more than £2500 a year for their energy for the next two years.
This will be achieved by the UK Government securing the wholesale price for energy.
Businesses will receive “an equivalent guarantee” on energy prices for six months, she said.
“After those six months we will provide further support to vulnerable sectors, such as hospitality, including our local pubs,” said the prime minister.
“My right honourable friend, the business secretary, will work with business to review where this should be targeted to make sure those most in need get support.
“This review will be concluded within three months, giving businesses certainty.”
The support will take effect from 1st October, with more information to follow.
