More financial support for energy intensive sectors

Posted on 2nd May 2023 by Streets Business Support


Image to represent More financial support for energy intensive sectors

Some businesses could see their bills slashed by as much as 20% off predicted wholesale prices, thanks to further government support launched on 26 April 2023 for sectors using high amounts of energy.

Applications have now opened for energy and trade intensive sectors that are most affected by the unprecedented rise in global energy prices to claim further discounts on their bills between 1 April 2023 and 31 March 2024 – helping deliver on the government’s priority to halve inflation.

Ceramics and textiles are among the wide range of sectors potentially in line to benefit. These companies use high amounts of energy to deliver their goods, but also are exposed to strong international competition, meaning they cannot raise their prices to cover the increase in costs they have faced.

Ministers are today urging companies to check their eligibility and submit their applications at the earliest opportunity, as the government continues its unprecedented support package that has protected businesses and as of April has saved them £5.9 billion on energy costs – over £30 million a day.


No Advice

The content produced and presented by Streets is for general guidance and informational purposes only. It should not be construed as legal, tax, investment, financial or other advice. Furthermore, it should not be considered a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The information provided by Streets is of a general nature and is not specific for any individual or entity. Appropriate and tailored advice or independent research should be obtained before making any such decisions. Streets does not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of obtaining Streets' visual or audible content.

Information

The content used by Streets has been obtained from or is based on sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we publish and we accept no liability for any errors or omissions in material. You should always seek specific advice prior to making any investment, legal or tax decisions.


Expert insight and news straight
to your inbox

Related Articles


Government crack-down on late payers

The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a year on average and according to FSB research,


Business cashflow

The government offers the following information regarding business cashflow. If you do not have enough money coming in to pay for goods, services and taxes your company has, you are at risk of insolvency. Why is cashflow important? ‘Cashflow’ is


Trade Mark protection

To apply for trademark protection in the UK, you will need to follow these steps: Check if Your Trademark is Eligible Ensure your trademark is unique and not too similar to existing trademarks. A trademark can include a word, logo, slogan, or a

You might also be interested in...