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Energy cost cap offers ‘immediate survival’ for hospitality sector
Relief is at hand for travel businesses with the just announced Energy Bill Relief Scheme.
The cap on energy prices paid by businesses will see them pay less than half the planned increase.
It applies to businesses on fixed and flexible contracts agreed and will run through 31 March 2023.
“This is why the government is working with suppliers to ensure all their customers in England, Scotland and Wales are given the opportunity to switch to a fixed contract/tariff for the duration of the scheme,” the Department for Business, Energy & Industrial Strategy said
The programme is to be reviewed again in three months.
“The review will focus in particular on identifying the most vulnerable non-domestic customers.”
UKHospitality CEO, Kate Nicholls, said: “We are relieved that the Government has listened to the problems that the sector is experiencing with energy suppliers.”
“This intervention is unprecedented and extremely appreciated as we head into an uncertain winter with numerous challenges on many fronts.”
The Prime Minister has singled out the vulnerability that energy costs are inflicting on the hospitality sector. Today’s announcement will give businesses some confidence to plan for immediate survival,” Nicholls added.
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