Business Aid Extended
British companies continue to receive cheaper electricity
To protect companies from rising energy prices, the British government is extending its aid by one year until the end of March 2024. A total of 5.5 billion pounds (6.24 billion euros) is available for this, as the Ministry of Finance in London announced on Monday evening.
In the UK, companies continue to get cheaper electricity. (archive image)
According to this, gas and electricity prices per unit will be reduced from April onwards: up to £6.97 per megawatt hour (MWh) will be automatically deducted from gas bills and up to £19.61 per megawatt hour (MWh) will be deducted from bills for electricity bills.
However, this regulation only applies at higher prices – from 107 pounds per MWh gas and 302 pounds per MWh electricity. Charities and public services should also benefit. Higher price thresholds and discounts apply to energy-intensive companies such as steel producers.
According to the previous regulation, which expires at the end of March, the prices per MWh of electricity and gas are frozen. The six-month bailout is estimated to have cost taxpayers £18bn. It also applies to private consumers. From April onwards, these will also have to adjust to higher costs, as the government is reducing its support. However, the poorest households and pensioners are to receive further energy aid.
(SDA)