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8th September 2022

Energy bill support announced for businsesses

Paul Slevin, Executive Chair, Chambers Wales South East, South West and Mid, said: “While we welcome the announcement by Liz Truss that businesses will be given the equivalent help on energy bills that is being offered to consumers, we are disappointed with the lack of detail and clarity in this announcement.

“While measures for households are set to be in place for two years, it will be of little comfort to business across Wales that support for businesses will be in place for an initial period of only six months. Businesses’ energy costs are not necessarily seasonal and rarely fluctuate as the majority of power is used in the process which runs all year.  We hope that this is not just a solution for winter.

“We also believe that this is a time to invest in net zero energy supply. The time and investment required for this is likely to be lower and will have a longer term benefit to the environment over other proposed solutions such as Fracking and oil extraction.

“Businesses need long term security to be able to plan ahead and so it remains to be seen whether this package of support will go far enough in delivering the support our members and businesses across Wales so desperately need.

“In the aftermath of Brexit and the Covid-19 pandemic, soaring energy costs are undoubtedly a source of immense worry for businesses. Unsustainable bills risk the loss of jobs and even collapse for many businesses that are the backbone of the Welsh economy.

“We sincerely hope to that the support for businesses announced today will be extended far beyond the initial six-month period, as Welsh businesses need clarity and support to get through this crisis, and they need it with immediacy.

“We will continue to work with our members, businesses and both the Welsh and UK governments to ensure companies across Wales are fully supported in all measures announced.”

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