You know those compelling TV adverts that say something like “If you bought fridge insurance between 2004 and 2008, you might be eligible for blah blah blah”?
A suitable 2023 version in the UK might say “If your business bought a fixed electricity contract between June and December 2022, you screwed up”. And then the television would turn off because you can’t afford the power.
Per the FT on Monday:
The British government is slashing the support it gives companies with their energy bills, but extending it for another year from April at a cost of £5.5bn, ministers announced on Monday . ..
At present the taxpayer is subsidising energy bills for the six-month period to April at a cost of £18bn by capping the price of electricity and gas at £211 per megawatt hour and £75 per MWh respectively until the end of March.
From April, the government will replace the caps with discounts of £19.61 per MWh for electricity when wholesale prices are above £302 per MWh, and…