Introduction: Treasury to announce reduced energy support scheme for businesses
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New measures to help UK firms cope with soaring energy bills are expected to finally be announced today, but the support is likely to be less generous than the current package.
The new package is due to be announced to MPs today, ahead of the expiry of the present support package at the end of March.
Since the start of October, the unit cost of electricity and gas for non-domestic customers has been capped to help them through the winter – which is expected to have cost over £18bn by the end of March.
Chancellor Jeremy Hunt warned UK businesses last week that the current level of energy bill support for firms is “unsustainably expensive” – a hint that support will be cut from April.
The new scheme is expected to offer a discount to wholesale…
