![]() ![]() Prices could continue to fall as demand naturally decreases across spring and summer. This, coupled with the energy-saving efforts of homes and businesses worried by the prospect of unaffordable energy bills, has helped to cut demand and caused a drop in prices. So, what exactly do current wholesale rates mean for the cost of your business energy bills? Let's take a closer look.Īlthough we suffered a cold snap in early December, we had a relatively mild winter across the UK and much of Europe. Check out our Bionic guide to find out more about the Energy Bills Discount Scheme.īut the way energy is bought and sold means that lower rates are rarely passed on to consumers until there has been a sustained period of price stability - something we've not seen since before wholesale prices plummeted during the first lockdown in 2020. On April 1, the Energy Bill Relief Scheme was replaced by a new scheme that will offer a universal discount on the unit rate on non-domestic energy contracts signed on or after December 1, 2021, including out-of-contract and deemed rates. This is why government support for businesses has been extended until March 31, 2024. Wholesale prices are currently at their lowest levels since May last year, but prices are still high. Increasing demand, limited supplies, a shortage of storage space and the conflict in Ukraine mean high energy prices are still a big concern for households and businesses across the UK. But a relatively mild winter and less reliance on Russian gas across Europe has meant that prices have been on the way down recently.
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