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27 Feb 2024

The inaugural Cycling Electric magazine Demo Day will take place on Sunday, April 28th, at the Lee Valley VeloPark in London.

27 Feb 2024

New research from the European Cyclists' Federation (ECF), a Brussels-based advocacy group, has confirmed that if a city has more bike lanes, more people will cycle. The results will give...

13 Feb 2024

2024 is well underway and we’re just around the corner from the Spring Statement and for the retail sector it’s pretty much business as usual…or is it?

13 Feb 2024

Fabian Hamilton MP, co-chair of the Walking and Cycling All-Party Parliamentary Group, has said that the Cycle to Work scheme "must be reformed".

13 Feb 2024

The British Independent Retailers Association (Bira) has called for a series of cost-saving measures in the next Budget to help boost business.

12 Feb 2024

People across England are missing out on a slew of health, wellbeing and environmental benefits due to half a century of “chronic underfunding” of its streets, according to Cycling...

12 Feb 2024

ACT member and Cytech-accredited Pauls Cycles in Dereham, Norfolk has said its electric bike sales have increased by a quarter since October, despite predictions they would drop off over...

9 Feb 2024

Guy Opperman, the Minister for Roads and Local Transport at the Department for Transport, whose focuses among other things on cycling and active travel, has attended a meeting of...

2 Feb 2024

The Department for Transport (DfT) has published new information on how to safely purchase, charge and use e-bikes and e-scooters in an effort to improve consumer safety.
Following...

30 Jan 2024

Cyclists in Warwickshire rode around the world during December as part of an initiative to encourage safe winter cycling.
 

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Government scales back energy bill support for businesses

Posted on in Business News , Cycles News

The government has announced it is to scale back support for businesses and their energy bills after warning that the current level of help was too expensive.

energy bills

Under the new scheme, firms will get a discount on wholesale prices rather than costs being capped as under the current one. Heavy energy-using sectors will get a larger discount than others, but firms will only benefit from the scheme when energy bills are high.

The new scheme will run until the end of March 2024, while a limit has been set on it in a bid to reduce how much taxpayers are exposed to spiralling costs. The energy support scheme is mainly used by businesses, but is also for charities, and public sector organisations such as schools and hospitals.

Wholesale gas prices are now below the level they were before Russia's invasion of Ukraine but are still three to four times higher than their long-term average, leaving businesses struggling with soaring costs.

In its announcement, the government said it was scaling back the energy subsidies for the next financial year to £5.5bn. The current scheme had been described as "unsustainably expensive" by the chancellor and was predicted to cost about £18.4bn in just six months, according to official forecasters.

Bills will automatically be discounted by up to £6.97 per megawatt hour (MWh) for gas bills and up to £19.61 per MWh for electricity bills, a statement said.

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