British government will assume part of the cost of energy | News
The Prime Minister of the United Kingdom, Liz Truss, announced this Wednesday that starting next October, her Government will assume part of the cost of the electricity bills of schools and hospitals, business entities and charities, to prevent them from going bankrupt.
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In a statement, the leader of the new British government said the scheme will reduce energy prices for non-household customers, protecting them from rising energy costs.
During the following six months, the discount will be applied only to wholesale costs depending on what each institution pays, and it is expected to mean a 50 percent saving in expenses for electricity and gas, whose prices have been significantly inflated all over the world.
Today, we’re stepping in to protect businesses, charities and public sector organizations from record high gas prices.
Just as we’re doing for consumers, this new scheme will keep energy bills down from October to provide additional peace of mind.https://t.co/suiGLY56UF
— Kwasi Kwarteng (@KwasiKwarteng)
September 21, 2022
The initiative comes on top of the Home Energy Price Guarantee, which was put in place to support families across the UK, including those living in rented or woodland homes.
On September 8, Truss established that temporarily from October 1, the average British household will pay no more than 2,500 pounds sterling (equivalent to 2,880 US dollars) on their energy bill.
Likewise, the prime minister indicated that each British household will receive a discount of 400 pounds (approximately 453 US dollars) on their annual energy bill from October, which will be divided into six disbursements.
After learning about the measure, representatives of the business sector appreciated the protection they receive from the Government against the increase in the prices of hydrocarbons and the world food market, but they consider that six months is insufficient to achieve an effective recovery.