Chancellor holds energy bill support meeting with business groups

According to the BBC, business groups are expecting government help with their energy bills to be halved but businesses, including retail, will have to wait for an announcement which is expected soon.

Jack Arthur, business energy expert at Uswitch for Business, said: “Businesses across all sectors are reaching the end of the road as soaring energy costs  threaten to close the enterprises they have worked hard to build. Following the delay of the announcement on future business energy support, it’s clear that firms need clarity.

“Over half of small businesses such as shops, restaurants and hairdressers have said they’ll have to increase their prices if the Energy Bill Relief Scheme is not extended beyond March.

“As we continue to wait for an announcement on non-domestic energy support, it’s important that businesses check their gas and electricity tariffs and ensure they are not overpaying, especially if they have fallen out of contract. They should be considering the type of contract that is right for their business to receive the appropriate level discount on their energy bills”.

In December, James Cartlidge, Exchequer Secretary said: “The energy bill relief scheme is very generous, but it is expensive, and we need to ensure longer-term affordability and value for money for the taxpayer. That is why we are carrying out a review of the scheme, with the aim of reducing the public finances’ exposure to volatile international energy prices from April 2023. We will announce the outcome of the review in the new year to ensure that businesses have sufficient certainty about future support before the scheme ends in March 2023.”

ACS has repeatedly called on the government to ensure that convenience stores are included in the list of essential vulnerable businesses that will receive additional help with their energy bills from April 2023 and wrote a letter to levelling up minister Dehenna Davison last month urging support.

ACS chief executive James Lowman said: “Rising energy costs are the single biggest concern for convenience retailers at the moment and without additional support on energy from next April, thousands of stores will be forced to make difficult decisions and many of these businesses will be at risk of closure.

“We’re calling on retailers to write to their MP to outline their concerns and highlight the detrimental impact that rising energy costs will have on their businesses. We need the Government to take decisive action and provide urgent clarity on the support that businesses will receive beyond March 2023.”

Retailers can enter their postcode on the MP email generator here to get involved.