This morning Liz Truss set out how her government will tackle the UK energy bill crisis – but how does this affect dental practices and business?
The Prime Minister insisted that the typical household will pay no more than £2,500 a year for the next two years under her new Energy Price Guarantee (EPG).
This is in addition to the £400 Energy Bill Support Scheme that was announced earlier this year.
But she made it clear that support will be extended to businesses and charities by ‘offering an equivalent guarantee for six months’.
Following this, there will be ongoing support ‘particularly for vulnerable industries’.
Truss added that, to improve long-term energy security, she is also launching two reviews.
This includes a review of energy regulation as well as a review of how the government can reach net zero ‘in a way that is pro-business and pro-growth’.
She ruled out imposing a windfall tax.
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Level of support
The written ministerial statement from Jacob Rees-Mogg, the new Energy Minister, says: ‘HM Government is acting to protect British households from the spiralling costs of energy. The Energy Price Guarantee (EPG) which will give people certainty with their bills. The EPG will apply from 1 October and will discount the unit cost for gas and electricity use.
‘This guarantee, which includes the temporary suspension of green levies, means that from the 1 October a typical household will pay no more than £2,500 per year for each of the next two years. This will save the typical household £1000 a year. It comes in addition to the £400 Energy Bill Support Scheme.
‘The scheme will start on the 1 October 2022, when Ofgem’s new price cap is due to come into effect. Cost projections for the delivery of the EPG are uncertain as they depend upon usage levels (which are highly dependent on weather patterns) and, for future three-month periods, the wholesale price of energy.
‘The new guarantee will apply to households in Great Britain, with the same level of support made available to households in Northern Ireland.
‘HM Government will also support all business, charities and public sector organisations with their energy costs this winter, offering an equivalent guarantee for six months.
‘The Chancellor of the Exchequer will set out the expected costs as part of the fiscal statement later this month.’
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