Suffolk Chamber statement on the new Energy Bills Discount Scheme

A statement from Suffolk Chamber of Commerce:

“As was pre-announced over the last week, the new scheme is clearly less generous than its predecessor. Suffolk Chamber welcomes the additional weighted support given to key manufacturing sectors with a strong footprint in the county, including those in meat processing, beer, sugar, animal feeds and malt. We also appreciate the Chancellor’s request to Ofgem to conduct a review into the excessive standing and delivery charges imposed upon non-residential energy users.

However, we are concerned about the sustainability of the scheme given that it has a finite budget of £5.5bn. This seems to be predicated on a belief that energy prices will substantially decline between now and March 2024. If this is not the case, there is a chance that the scheme could be cut short prior to that date, leaving businesses fully exposed to wholesale prices and supply challenges. We have asked our national body, the British Chambers of Commerce to ascertain if The Treasury has a ‘Plan B’ should this eventuality occur.”