Gas and electricity costs for UK businesses, charities and public sector bodies are to be capped – the government has announced.
The BEIS department says that electricity prices are expected to be capped at £211 per megawatt hour, while gas prices will be capped at £75 per MWH.
Suppliers are to apply the reduction automatically to all eligible non-domestic customers, BEIS adds, with the government compensating suppliers for the cost.
The savings will apply to contracts signed since April 1st this year – and run from 1st October to 31st March 2023.
BEIS said: “To administer support, the Government has set a Supported Wholesale Price – expected to be £211 per MWh for electricity and £75 per MWh for gas, less than half the wholesale prices anticipated this winter – which is a discounted price per unit of gas and electricity.
“This is equivalent to the wholesale element of the Energy Price Guarantee for households. It includes the removal of green levies paid by non-domestic customers who receive support under the scheme.”