Household energy costs will be capped in Northern Ireland from November, the UK government says
Wholesale energy prices for businesses will be capped at "less than half" anticipated winter levels under a huge government support packageImage source,No update has been provided on government plans to help with the cost of home heating oilNorthern Ireland is in a different energy market from the rest of the UK, so Northern Ireland businesses will get a scheme based on the same criteria and offering comparable support, but "recognising the different market fundamentals".
Under the British scheme, revealed by the Department for Business, Energy and Industry, wholesale prices are expected to be fixed for all non-domestic energy customers at £211 per MWh for electricity and £75 per MWh for gas for six months.Retail NI has said it is "hugely disappointing" that more clarity was not provided on the energy cap.
"Government needs to ensure that a clear date is provided for the introduction of the energy bill cap, a business rates holiday and VAT reductions to support local small businesses," chief executive Glyn Roberts said. Colin Neill, chief executive of Hospitality Ulster, said it was "simply unacceptable" that businesses in Northern Ireland do not yet have the full details of how support will be provided.
"We need urgent clarity on how these measures will be carried forward, thousands of businesses are on the brink with many concerned how they will get through the winter," he said.