How to help firms survive crippling energy bills

Energy bosses have insisted for some time that a government-backed "superfund" from which they could borrow to lower or freeze bills "is the only game in town" - as one told me last week.

by | 5 Sep, 2022

Ministers and officials are now getting to the same conclusion.

How could you do it? There are a couple of ways.

Scottish Power suggested freezing all bills at current level of £1,971 for two years at a cost of nearly £100bn. That was dismissed by the current chancellor (until tomorrow) as it was not targeted enough at poorer households.

Ovo suggested that richer households would start to pay more on top of the frozen rate as they either earned and used more energy. This would be cheaper but would still run to many tens of billions of pounds according to Ovo’s chief executive Stephen Fitzpatrick.

Read more at BBC News

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