Today the government announced that the wholesale energy prices for businesses were expected to be half the current trading figures which are about £490 per MWh for electricity and £170 per MWh for gas.
In the briefing it said that prices were:
“expected to be £211 per MWh [21.1p/kWh] for electricity and £75 per MWh [7.5p/kWh] for gas, less than half the wholesale prices anticipated this winter — which is a discounted price per unit of gas and electricity”.
The scheme is initially to run for six months from October until the end of March. There was also an indication that the most vulnerable businesses would have these subsidies extended – there is no further detail available on how businesses may qualify for this.