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| Version 56 | Version 57 |
|---|---|
| What is the energy price cap and how high could bills go? | What is the energy price cap and how high could bills go? |
| (7 days later) | |
| Details of extra support for businesses facing energy bill hikes will be announced on Wednesday. | |
| They were promised "equivalent" help when plans to limit price increases for households were set out. | |
| What help will businesses get with bills? | |
| At present, businesses aren't covered by an energy price cap in the way that households are. | |
| Many small firms expect to move to new contracts on 1 October and fear a sharp increase in their bills. | |
| Almost a third of all firms expect rises of more than 30%, the Confederation of British Industry (CBI) says. Most of these expect to pass on at least some of the extra costs to customers. | |
| Announcing help for households, the government said businesses, charities, schools and other organisations will get "equivalent" support for six months. | |
| After six months, "vulnerable" businesses - including pubs - will receive further support. A review will be carried out after three months to identify where extra support should be targeted. | |
| Business groups say they want to know which firms will classify as "vulnerable". And they want to know whether businesses will receive the same amount of support per unit of energy used that households are getting. | |
| To help with the rising bills, businesses can ask suppliers for more time to pay and for a review of payments and debt repayments. | |
| Some energy companies offer schemes or grants to improve energy efficiency, which can reduce costs. Local councils also have some business support funds for small businesses, including sustainable business grants. | |
| What is the energy plan? | What is the energy plan? |
| The government has already announced plans to help households. | |
| Measures include: | |
| A typical household's energy bill will rise to £2,500 a year from 1 October (from £1,971) | A typical household's energy bill will rise to £2,500 a year from 1 October (from £1,971) |
| The "energy price guarantee" will last two years | |
| This is not a limit on how much you will pay - your bill depends on how much energy you actually use | This is not a limit on how much you will pay - your bill depends on how much energy you actually use |
| Before the announcement, typical household bills had been due to rise to £3,549 a year | Before the announcement, typical household bills had been due to rise to £3,549 a year |
| The plan applies to all households in England, Scotland and Wales. In Northern Ireland, the "same level of support" will be available | The plan applies to all households in England, Scotland and Wales. In Northern Ireland, the "same level of support" will be available |
| The one-off £400 fuel bill discount payments for households will go ahead | The one-off £400 fuel bill discount payments for households will go ahead |
| Anyone who doesn't use mains gas and electricity - such as those using heating oil - will receive equivalent help | Anyone who doesn't use mains gas and electricity - such as those using heating oil - will receive equivalent help |
| What is the energy price cap and how does it work? | |
| The energy price guarantee will replace the existing energy price cap, which sets the the highest amount suppliers are allowed to charge households for every unit of energy they use. | |
| These energy units are the kilowatt hours (kWh) on your bills. | These energy units are the kilowatt hours (kWh) on your bills. |
| From 1 October, dual-fuel customers on a standard variable tariff will pay: | From 1 October, dual-fuel customers on a standard variable tariff will pay: |
| 34p per kWh of electricity | 34p per kWh of electricity |
| 10.3p per kWh of gas | 10.3p per kWh of gas |
| Under the new price guarantee, a typical household can expect to pay about £2,500 a year. | |
| But most households aren't actually typical. Many factors - like the number of people in a house, the type of property and how much they use their heating - all make a difference. | |
| The government has said many people on fixed deals will also receive a discount. However, those on an expensive fixed tariff could still end up paying more than those on a standard variable tariff. | |
| The standing charge - the fee customers pay for being connected to the energy grid - will be 46p per day for electricity and 28p per day for gas. | |
| Fixed energy deals could still be more expensive | Fixed energy deals could still be more expensive |
| How much will the energy guarantee cost and who will pay for it? | How much will the energy guarantee cost and who will pay for it? |
| The government is still to set out the full cost of the scheme, but estimates suggest it could be between £130bn and £150bn. | |
| It will be paid for through increased borrowing. This is when the government raises money by selling financial products called bonds, which have to be paid back, usually after several years, with interest. | |
| This means taxpayers ultimately pay back more than the government raised. | |
| Where does the government borrow billions from? | Where does the government borrow billions from? |
| What additional help will I get to pay my energy bills? | What additional help will I get to pay my energy bills? |
| All households will be given a one-off £400 discount on their fuel bills from October. | |
| In addition, £650 will be paid to more than eight million low-income households who receive many benefits or tax credits. | In addition, £650 will be paid to more than eight million low-income households who receive many benefits or tax credits. |
| Further payments of £300 to pensioner households and £150 to disabled people will also go ahead. | Further payments of £300 to pensioner households and £150 to disabled people will also go ahead. |
| Vulnerable families can also claim help through the Household Support Fund, the Warm Home Discount scheme, and hardship funds run by energy companies. | Vulnerable families can also claim help through the Household Support Fund, the Warm Home Discount scheme, and hardship funds run by energy companies. |
| What cost-of-living payments will I get? | What cost-of-living payments will I get? |
| What can I do if I can't pay my energy bill? | What can I do if I can't pay my energy bill? |
| Ofgem: Getting help if you can't afford your energy bills | Ofgem: Getting help if you can't afford your energy bills |
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