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News
A price cap freeze is expected to help businesses’ energy costs
12 Sep 2022
By Neil Holtschke, Senior Manager
Quite rightly, column inches and TV time will be dominated in the next few days by the sad news on Thursday night of the passing of Her Majesty Queen Elizabeth.
However, on Thursday afternoon, just prior to the breaking news from Buckingham Palace, it was announced that help is on the way for businesses in respect of an expected price cap freeze.
Details are still to be finalised and publicised in full, though it is expected that this cap will be at the same price per unit as households and will run until 8 March 2023.
As it stands, that is the extent of the business energy help announcement, but following the change in government leadership last week, rumours continue to circulate about the possibility of a “significant fiscal event” at some point in the near future. We are also due the annual Autumn budget sometime in November, so the possibility remains for further help for businesses.
In the meantime, business owners should explore whether there are opportunities to switch to better tariffs or protect their cash flow in other ways. There also continues to be a number of Green/energy saving/carbon reducing type grants available which some businesses might find they qualify for.
Here at WR Partners, we will continue to monitor the assistance available to businesses as we continue in our mission to help our clients grow and protect their business.
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