top of page
Keyboard and Mouse

Truss to freeze energy bills at £2,500 a year from October

Updated: May 2, 2023



Liz Truss is outlining her strategy for addressing the situation with energy prices.


She claims that starting on October 1, the energy price cap will be set at £2,500 per year for a typical home for a period of two years.


Ban on fracking lifted


According to Truss, where there is local support for fracking, the restriction will be lifted.


"This could get gas flowing as soon as six months," Truss says.

A task force on energy supply will "ramp up energy supply."


Truss says government will "defray" the cost of the intervention by ramping up energy supply.

The government has formed an "energy supply taskforce", led by vaccine tsar Madelaine McTernan.


The taskforce is already negotiating new long-term energy contracts with domestic and international gas suppliers to immediately bring down the cost of intervention, Truss says.

We are also accelerating all sources of domestic energy, including north sea oil and gas production.


Chancellor to explain how energy plan will be funded


Chancellor Kwasi Kwarteng will explain how the plan will be funded as part of his fiscal event later in the month, Truss says.


Truss says she "will not be giving into the leader of the opposition, who demands a windfall tax to fund the freeze."


"It would undermine the national interest, by discouraging the very investment we need to secure home-grown energy supplies," Truss says.


Support for businesses


Businesses will be offered the same support that is being offered to consumers, Turss says.

After six months, ministers will offer "focused support" to vulnerable industries.


Guarantee has been agreed with energy price retailers, Truss says


Truss says a typical household will pay no more than £2500 each year for the next two years and the guarantee will include a suspension of green levies.

Truss says the guarantee has been agreed with energy price retailers.


Energy price cap to be fixed at £2,500


The energy price cap will be fixed at £2,500 a year for a typical home for two years from October 1, Truss announces.

The plan is in addition to the £400 energy bill discount that was previously announced and will save the average household £1,000 a year, Truss says.



While it remains to be seen how this will directly affect business energy costs, we will keep you up to date with any changes which may affect your business.




24 views0 comments

Comentarios


Keep Up To Date With Market Updates

technological-devices-with-financial-reports.jpg

Securing your next energy contract at the optimum moment is essential for fully realising your savings opportunities. Provide your details below to gain access to weekly market updates, giving you the advantage to make informed purchasing decisions at the right time.

 

Bid farewell to aggressive sales approaches from other brokers and take charge with confidence!

You're Subscribed! Look out for your first report soon!

Have More Questions?

  • Is it possible to change multiple business utilities at the same time?
    Our switching service allows you to switch multiple utilities simultaneously. We have successfully assisted multiple businesses in the UK by helping them save on various services such as energy and water with savings within 2023 already over the £2 Million mark.
  • How much can I save on my business utility bills?
    The amount you can save on your business utility bills will depend on various factors such as your current usage, the rates offered by different providers, and the specific deals available in your location. However, our switching service is designed to help you find the best deals and save as much as possible. By comparing multiple suppliers and negotiating competitive rates, we aim to maximise your potential savings. Get in touch with us to discuss your specific needs and get personalised information on potential cost savings for your business utility bills.
  • How does switching business utilities work?
    Switching business utilities involves a straightforward process. Here's a general overview of how it works: Evaluation: Start by assessing your current utility bills and usage patterns. This will give you an idea of your current costs and help identify areas where savings can be made. Comparison: Use a switching service like ours to compare different utility providers in your area. We provide you with quotes from multiple suppliers, allowing you to compare prices, contract terms, and services offered. Selection: Based on the comparison results, choose the utility provider that best meets your needs and budget. Consider factors such as price, customer reviews, contract terms, and any additional services or benefits offered. Contract Negotiation: Once you've chosen a new provider, our team can help negotiate the contract terms and rates on your behalf. Switching Process: The switching service will coordinate the transition with your current supplier and the new provider. This may involve submitting termination notices, arranging meter readings, and scheduling the activation of new services. Enjoy the Savings: After the switch, you'll start receiving services from your new provider, typically at the agreed-upon rates. You will notice savings on your utility bills, providing you with cost advantages for your business. Remember, the exact process may vary depending on the type of utility you are switching, but our switching service aims to simplify the process and assist you at every step.
  • Who are the cheapest business utility providers?
    As market conditions and prices fluctuate regularly, it's challenging to provide an up-to-date and definitive list of the cheapest business utility providers. The prices we provide you are valid and available on the day of the quote and will provide most current and competitive deals available. Our switching service helps you compare prices and offers from multiple suppliers, ensuring you have the most accurate and relevant information to make an informed decision about your business utility provider.
  • What is energy procurement?
    Energy procurement is the process of sourcing, negotiating, and securing energy contracts to meet the specific needs of a business. It involves analysing energy consumption patterns, understanding market trends, and negotiating with suppliers to obtain the best possible rates and contract terms.
  • Why is energy procurement important for my business?
    Energy procurement ensures that your business secures energy contracts that are both cost-effective and aligned with your operational needs. Proper energy procurement can lead to significant cost savings, budget predictability, and reduced risks associated with volatile energy markets.
  • How does The Smart Energy Company help with energy procurement?
    We specialise in analysing your energy consumption, understanding your specific needs, and leveraging our relationships with over 20 suppliers to negotiate the best possible contracts on your behalf. Our team ensures you get optimal rates, flexible terms, and contracts that align with your business goals.
  • How do you ensure I get the best energy rates?
    Our team continuously monitors the energy market, staying updated with trends, price fluctuations, and supplier offerings. Coupled with our in-depth analysis of your energy needs and consumption patterns, we negotiate with suppliers to secure rates that are both competitive and suited to your business.
  • Are there any hidden fees associated with your energy procurement services?
    Transparency is a core value at The Smart Energy Company. We provide a clear breakdown of any commission we earn as a company when you come to agree any new energy contract. This is typically included as an uplift in your unit rate and paid to us by the supplier you chose to go to. Our primary goal is to secure the best energy deals for you, with no hidden costs.
Business Meeting

Unlock the Potential of
Your Business Energy

At The Smart Energy Company, we're committed to offering tailored solutions that fit your energy needs perfectly. By staying ahead of market trends, we ensure you're always equipped with the most efficient and sustainable energy options. We take pride in our client-driven approach, where your feedback shapes our continuous improvement.

 

Why not schedule a complimentary consultation with one of our energy experts today? Let's find the perfect energy solution tailored to your business.

See What Our Clients Say About Us

1828884.png
1828884.png
1828884.png
1828884.png
1828884.png
56937_edited.png

Very helpful, quick expert advice. We have been using Smart Energy for a while.

56937_edited_edited.png

Ian Hughes

Operation Manager

Group of Bars

bottom of page