Earlier this month, the chancellor, Jeremy Hunt, confirmed that the scheme designed to soften the blow of soaring monthly payments for energy would become significantly less generous from April.
It has been estimated that firms that signed fixed price energy contracts between August and October last year will receive a discount of between 25% and 55% on electricity under the existing scheme running until April. After that, most businesses will receive discounts of only 0.7% off their gas and 2% off their electricity bills.
In the letter, seen by the Guardian, the industry bodies say: “We are urging [the business department] and Ofgem to encourage energy suppliers to allow the most vulnerable businesses to renegotiate or ‘blend and extend’ their energy contracts to reflect significantly lower wholesale prices now available.”
Read more at The Guardian
