According to new data released by the UK Government, nearly £40 billion has been spent mitigating the impact of rising energy bills on households and business throughout winter.
UK businesses are facing electricity bill rises of up to 133% from April compared to last year, Cornwall Insight’s Delivered Electricity Cost forecaster revealed.
A new report by Cornwall Insight suggested a number of regulation and policy changes that would build a partnership between the Government and UK businesses to support corporate investment in decarbonisation.
From April, UK businesses and other non-domestic energy users will see a unit discount of up to £19.61/MWh applied to their electricity bill, the Government has announced.
The Confederation of British Industry (CBI) has urged the government to extend the Energy Bill Relief Scheme beyond March 2023 for high energy users to prevent plunging British industry into disarray.
The Office of National Statistics (ONS) has showcased the impact of the energy bills support measures on public sector borrowing with the October 2022 figure standing at £13.5 billion.