Energy Crisis Update

September 22, 2022

DBS Sports Fund

Yesterday morning, it has been announced that all UK businesses have secured a major energy support package that will slash bills this winter.

The new wholesale energy prices will be set at £211 per MWhof electricity and £75 per MWh for gas. Starting from the 1stOctober, businesses in the UK will be given a much needed rest bite from the extremely high prices which they have been plagued with over the past year.

Businesses on other contracts, such as variable rates, will have a maximum discount band, the government said, to be around per MWh for electricity and £115 per MWh for gas. These prices are subject to wholes alemarket developments and the government is working with suppliers to make sure companies are able to switch to fixed-rate contracts.

These changes will affect companies on contracts that were agreed on or after the 1st April 2022. This scheme will last at least 6 months, with a review after 3 months to decide whether it should be extended or more support is required across different sectors.

The government are also encouraging businesses to switch into a fixed price deal to potentially save more money.

UK Government Energy Bill Relief Scheme


However, some claim that it is a little too late and the prices have not been cut enough to support struggling small businesses who have had an increase of over 300%.

If you would like to speak to any of our team surrounding any issues you have or are unsure what this means for your business then please give a member of our team a call on 0800 031 5470 and we will be happy to help!