UK Government set to increase support for UK sectors hit by energy crisis – but is it enough ?

With bills soaring by an estimated £800mn due to the current energy crisis, the UK Government is set to step in with a three-year package.

Although useful for some businesses, it could well be too little too late as some firms have already gone bust due to the huge increase in energy prices, but also due to the mis-selling of Business Energy Contracts over the last 10 years.

The energy crisis has got so bad that some major manufacturers warned they could have to suspend production because of fast-rising energy bills.

Under this new agreement, the government will extend their existing programme called the “energy-intensive industries compensation scheme”, which expired at the end of March for a further three years.

Kwasi Kwarteng has made clear that the compensation scheme support package will more than double its previous level of about £130mn a year up to £280mn a year.

And whilst this is good news for current energy consumption, the amount of money lost through mis-sold business energy contracts should not be forgotten.

If you’ve used a Business Energy Broker in the last 10 years, you may well be due some compensation with some quarters suggesting that up to 85% of Business Energy Brokers mis-sold their energy contracts.

It only takes 3 minutes to see if you may be eligible →

Energy Claims for Business

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