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Thursday, June 13, 2024

Energy Bill Relief Scheme set to be ditched

Thousands of businesses will be forced to raise prices if the Energy Bill Relief Scheme (EBRS) scheme is not extended next week.

Under existing support, the government caps gas and electricity bills for companies meaning that if prices rise above a ceiling, the state covers the cost.

But chancellor Jeremy Hunt told industry leaders that the existing support is unsustainably expensive at £18 billion over six months.

He is expected to launch a new scheme next Monday but businesses are expected to take up the slack over ceiling costs.

The current Energy Bill Relief Scheme (EBRS) offers businesses a discount on their gas and electricity costs, introduced for an initial period of six months from October 2022 to March 2023.

Eligible businesses don’t need to apply for the discounts but should check if they believe it has been applied incorrectly by their supplier.

The energy support scheme is mainly used by businesses, but is also for charities, and public sector organisations such as schools and hospitals.

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