Government unveils new “Energy Bills Discount Scheme” for businesses
A new energy scheme for businesses, charities and the public sector has been confirmed ahead of the current scheme ending in March. The new scheme will mean all eligible UK businesses and other non-domestic energy users will receive a discount on high energy bills until 31 March 2024. This will help businesses locked into contracts signed before recent substantial falls in the wholesale price manage their costs and provide others with reassurance against the risk of prices rising again.
For eligible Energy and Trade Intensive Industries, the Government has announced that these businesses will receive a discount reflecting the difference between a price threshold and the relevant wholesale price.
Firms with primary operations in a number of sectors, including; manufacture of electronic components, manufacture of other electronic and electric wires and cables, manufacture of electric domestic appliances and manufacture of machinery for metallurgy, will be eligible for support under the Energy and Trade Intensive Industries (ETII) scheme.
Businesses may need to register for the higher level of ETII support and details on how to apply will be released in due course. Energy and Trade Intensive Industries in scope of the additional support are listed here.
Further information on the ETII scheme will be published by the end of March 2023, including guidance for firms that believe their operations are not correctly classified by Standard Industry Classification (SIC) code.
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