Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will offer targeted support to businesses which agreed energy contracts in 2022 when wholesale energy prices were high and which are now having difficulty in meeting their operating costs.

The Energy Bills Discount Scheme (EBDS) will provide all eligible businesses and other non-domestic energy users with a discount on high energy bills for 12 months from 1 April 2023 until 31 March 2024. It will also provide businesses in sectors with particularly high levels of energy use and trade intensity with a higher level of support.

EBDS will help those locked into contracts signed before recent substantial falls in the wholesale price manage their costs and provide others with reassurance against the risk of prices rising again.

The Government is aware that some businesses are having difficulties securing the benefit of falling wholesale prices from their energy suppliers. The Government welcomes Ofgem’s recent update on their investigation into the non-domestic retail market. We encourage them to complete their review at pace and welcome their commitment to take swift compliance and enforcement action against any supplier who has breached market rules.