The UK government has announced a new scheme to discount wholesale gas and electricity prices for all non-domestic customers. The Energy Bill Relief Scheme will be available to all UK businesses, the voluntary sector and the public sector to protect them from rising energy costs.
Valda Energy customers do not need to do anything as the discount will automatically be applied to bills.
The discount will apply to fixed contracts signed on or after 1 April 2022, as well as to deemed, variable and flexible tariffs and contracts. The scheme will start from 1 October 2022 till 31 March 2023, running for an initial six month period for all non-domestic energy users.
The savings will be first seen in your November bill(s).
A business that uses 10,000 kWh of electricity over the period 1 October 2022 to 31 March 2023 and signed a fixed contract in August 2022, would have a current monthly energy bill of around £1,000.
At the time they signed their contact, wholesale prices for the next six months were expected to be higher than the Government Supported Price of 21.1p/kWh (£211/MWh) for electricity, meaning they can receive support under this scheme.
The difference between expected wholesale prices, when they signed their contract, and the Government Supported Price is worth 29p/kWh for electricity, meaning they would receive a discount of around £483 per month, reducing their bill by over 40%.
A business that uses 10,000 kWh of electricity over the period 1 October 2022 to 31 March 2023 and signed a fixed contract in June 2022, would have a current monthly energy bill of around £670.
At the time they signed their contact, wholesale prices for the next six months were expected to be higher than the Government Supported Price of 21.1p/kWh (£211/MWh) for electricity, meaning they can receive support under this scheme.
The difference between expected wholesale prices, when they signed their contract, and the Government Supported Price is worth 9p/kWh for electricity, meaning they would receive a discount of around £150 per month, reducing their bill by around 23%.
All information relating to the scheme will be available and updated on the GOV.UK website.
No additional information will be available through our customer service channels.
There's help available if you want to talk to someone about your bills or other debts.
If you would like free independent debt advice about energy or other bills, you may want to contact Business Debtline free on 0800 197 6026 from 09:00-20:00, Monday to Friday.
You may also find it helpful to seek advice on energy efficiency and reducing bills. The Energy Saving Trust has lots of advice on how to save energy. You may also find some of our energy-saving blogs useful.
If you would like information about the finance options available to your business, you may want to contact the British Business Bank. The British Business Bank is owned by the UK Government and it is dedicated to increasing the supply of credit to small and medium sized enterprises as well as providing business advice services.
According to published data, there are around £13+ billion of unclaimed means-tested benefits in the UK. If you would like to know whether you could benefit from this unclaimed income, please use the Government Published Calculator.
If you would like independent debt advice about your personal finances, please refer to the Debt Charity Step Change.
To find out what support is available to help you with the cost of living, visit Help for Households.
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