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28 Nov 2022

VOLT announces its new insurance collaboration with LAKA, three-time winners of the Best Cycle Insurance Provider category at the Insurance Choice Awards and pioneers of the ‘collective...

24 Nov 2022

According to a new survey, Cambridge is the best in the country for independent shopping to support small businesses. The study found that many of the city's small businesses turned out to be...

22 Nov 2022

Groups of independent retailers in York are to receive a £25,000 funding boost to help with promotion during the Christmas trading period and to attract more customers in 2023.

21 Nov 2022

Shop owners in Earlsfield, Wandsworth are teaming up in the run-up to keep the high street busy in the run-up to Christmas. With the cost-of-living crisis affecting independent shops, the...

17 Nov 2022

Retail and small business organisations have given a cautious welcome to business-focused aspects of the Chancellor’s Autumn Statement.

17 Nov 2022

Cycle retailers around the UK facing up to the imminent challenges of recession will need to stay one step ahead of the curve to survive. Now is the time to benefit from being part of something...

15 Nov 2022

Belfast City Council is seeking expressions of interest to provide publicly accessible secure cycle storage facilities across the city.

15 Nov 2022

New research from Research Nester has forecast that between now and 2033, the global bicycle market could reach an estimated value of approximately $130 billion, by expanding at a compound...

14 Nov 2022

Ahead of the Chancellor’s Autumn Statement this week, retail expert Mary Portas called on the Government to rethink business rates and VAT to help struggling retailers.

10 Nov 2022

A new report by Ankorstore and retail consultant Mary Portas has found that 94% of independent retailers want the government to act in next week’s budget to preserve the UK’s high...

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ACT welcomes government support for business energy bills

Posted on in Business News , Cycles News

The Association of Cycle Traders has welcomed the government’s announcement that it will be funding support for business energy bills over the next six months.

Through the new Energy Bill Relief Scheme, the Government will provide a discount on wholesale gas and electricity prices for all non-domestic customers whose current gas and electricity prices have been significantly inflated in light of global energy prices. This support will be equivalent to the Energy Price Guarantee put in place for households. It will apply to fixed contracts agreed on or after 1 April 2022, as well as to deemed, variable and flexible tariffs and contracts.

The scheme will cover energy usage from 1 October 2022 to 31 March 2023, running for an initial six-months for all non-domestic energy users. The savings will first take effect for October bills, which are typically received in November.

A spokesperson for the ACT said:

“It was essential that the Government put in place support for local independent retailers and, in many cases, will be central to their ability to continue trading. We remain concerned about what will happen at the end of this six-month support package and urge Secretary of State for Business, Energy and Industrial Strategy to regard today’s announcement as the start of a process to support businesses through the energy crisis whilst intensifying the focus on a more energy efficient future.”

The spokesperson continued that whilst the support is welcome, it shares the Federation of Small Businesses’ concern that small companies may not qualify for the Government’s energy bills support scheme. The FSB is calling for a “hardship fund” to be set up to help businesses ineligible under the scheme or still struggling with costs. Under the scheme, businesses on fixed price contracts signed after April 1 will have their bills fixed at around £211 per megawatt-hour for electricity and £75 per megawatt-hour for gas, while companies on variable contracts will get major discounts. However, the FSB warned that companies may have signed contracts at high prices before April 1, while others have been pushed into difficulty by energy costs since then.

The Prime Minister Liz Truss said: “I understand the huge pressure businesses, charities and public sector organisations are facing with their energy bills, which is why we are taking immediate action to support them over the winter and protect jobs and livelihoods.

“As we are doing for consumers, our new scheme will keep their energy bills down from October, providing certainty and peace of mind.”

The government will review the scheme in three months and then decide on further support after March 2023.

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