Last week, Ofgem announced that energy costs would be rising by 80% for the average household from October. Whilst this is in itself a huge rise, there is even more concern that business will be hit even harder.
There is currently no cap in place for commercial energy provision and businesses could be looking at much greater potential increases as they come to renew supply contracts.
We have been seeking your experiences of this situation in order to feedback to BEIS, and if you haven’t already submitted a response we would urge you to do so by clicking here (it should only take 2 minutes).
We have also been working as part of the Independent Retailers Confederation on a submission to both of the prospective Conservative leaders, and this was sent on the 25th August.
In this letter, jointly signed by a number of similar Trade Associations, we asked for urgent action on the following:
- Maintain 100% business rates relief for retailers;
- Persuade energy companies to place a cap on energy increases for businesses;
- Reduce to the multiplier for small businesses from 2023/24;
- Cut VAT for retailers to stimulate demand;
- Provide more funding to encourage investment in low-energy technology in retail shops to protect retailers from higher energy bills in the long term.
You can read the full letter below:
Letter to TrussThis week’s drop-in will cover the topic of lobbying as we finalise our focus and activity for the coming months. We would welcome your input and you can register here