UK government caps energy bills for businesses for 6 months

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LONDON (AP) – The British government said Wednesday it will cap wholesale energy bills for businesses this winter as part of a package of measures to protect people and businesses from rising prices of energy

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Prime Minister Liz Truss said the cap would apply for six months from October 1 and ensure businesses “can get through the winter”.

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He added that shops and pubs will benefit from financial help on their energy bills beyond the initial support period.

“We will review it after six months. We will make sure that the most vulnerable businesses like pubs, like shops, continue to get support after that,” said Truss, who is in New York to attend the General Assembly of the UN

The announcement follows similar measures announced earlier this month to cap national energy prices to help millions of people struggling to heat their homes amid a cost-of-living crisis.

Truss said on September 8 that the two-year “energy price guarantee” means average household heating and electricity bills will be no more than £2,500 ($2,872) a year. Bills were due to rise to 3,500 pounds ($4,000) a year from October, an 80 percent jump from the current average annual bill of 1,971 pounds.

The government estimates that the measures will reduce the rise in the UK’s inflation rate.

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