London announces support for businesses in the fight against electricity prices

MOSCOW, 21 Sep — PRIME. The UK has announced a plan to support businesses in the fight against electricity prices, according to a press release published Wednesday on the website of the United Kingdom government.

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“Under the government’s new electricity bill support programme, the government will provide a discount on wholesale gas and electricity prices to all non-residential customers (including all UK businesses, the non-profit sector such as charities and the public sector such as schools and hospitals) “, the message says.

The support program will run from October 1, 2022 to March 31, 2023, the statement said. In addition, the UK government has set a cap on wholesale electricity and gas prices of £211 per MWh and £75 MWh respectively. As noted in the document, this figure is almost 50% less than wholesale prices expected this winter.

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Earlier, the new British Prime Minister Liz Truss announced a freeze on energy bills for British households from October 1 for the next two years, now the average annual bill for gas and electricity will not exceed 2,500 pounds.

The West has stepped up sanctions pressure on Russia because of Ukraine. The disruption of supply chains has driven up fuel, electricity and food prices in Europe and the US. In the UK, the rise in the cost of living has hit households and businesses hard.


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