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New energy subsidies for businesses in the UK attempting to prevent a wave of corporate bankruptcies
🎞️ · 24.09.2022 · 21:09:46 ··· Samstag ⭐ 0 🎬 0
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🎬 · 24.09.2022 · 21:09:46 ··· Samstag
😎 · 03.07.2024 · 15:40:29 ··· MiTTwoch
The British government has announced new subsidies that will help partly stem a wave of corporate bankruptcies. In the winter, companies and public organizations will pay for electricity half as much as expected, but still much more than before, according to a statement from the authorities, writes the Financial Times.
Wholesale prices for businesses are expected to be around £211/MWh for electricity and £75/MWh for gas. Electricity and gas contracts for the winter are currently trading in the UK at around £490/MWh and £170/MWh respectively. Finance Minister Kwazi Kwarteng said the government's intervention would help stem the collapse of businesses, protect jobs and curb inflation. In addition, the authorities assume that this method of curbing inflation will reduce the volume of government borrowing, which has increased significantly compared to the level expected in August.
The new rules will be in effect from October to March, but Liz Truss noted that they could be extended for the most vulnerable organizations, including schools, hospitals and charities. The level of price reduction for each individual business will vary depending on the type of contract and the commitment of the company.
While most businesses have welcomed the government's proposal, many remain wary of a significant increase in bills compared to previous years. Over the past decade, gas prices in the UK have rarely exceeded £30 per megawatt hour. Even with the new pricing policy, businesses will still face serious challenges, and some of them have already noted that such support will not be enough to survive the winter.
· 24.09.2022 · 21:09:46 ··· Samstag
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