The UK government announced a new scheme, known as the Energy Bill Relief Scheme, to discount wholesale gas and electricity prices for all non-domestic customers. The scheme is available to all UK businesses, the voluntary sector and the public sector to protect them from rising energy costs.
The scheme will apply to fixed contracts signed on or after 1 April 2022, as well as to deemed, variable and flexible tariffs and contracts.
The government discount will be the same for all qualifying businesses no matter who your business energy supplier is.
It will apply to energy usage from 1 October 2022 to 31 March 2023, running for an initial six-month period for all non-domestic energy users. This means the savings will be first seen in November bills.
Valda Energy customers do not need to do anything as the discount will automatically be applied to bills. If you have already been billed for October, we will adjust your bill accordingly.
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%.
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