New energy support package welcomed as ‘vital breathing space’ for Peterborough businesses

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New Government action to slash spiralling energy costs for businesses has been welcomed as offering a ‘vital breathing space’ for Peterborough companies

Under a hefty support package revealed today (Wednesday), the wholesale price of energy will be cut by about half its predicted level for businesses during the winter.

It means from the start of next month the wholesale price of gas and electricity will be fixed for companies, along with hospitals, schools and charities, at levels last seen in May for the next six months with the discount automatically applied to bills.

The scheme is expected to be reviewed after three months with help then targeted at so-called ‘vulnerable’ industries.

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