Energy: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment he has made of the potential impact of energy costs on business in Fylde.
Answered by Sarah Jones
Wholesale energy costs have decreased for non-domestic consumers since the global energy crisis, but we recognise that some businesses may be struggling to pay their bills. The Government believes that our mission to deliver clean power by 2030 is the best way to break our dependence on global fossil fuel markets and protect billpayers permanently.
In the short-term, the Government wants to provide businesses with better protection from being locked into unfair and expensive energy contracts, and more redress when they have a complaint. Last year, the Government launched a consultation on introducing regulation of Third-Party Intermediaries (TPIs), such as energy brokers. This is aimed at enhancing consumer protections, particularly for non-domestic consumers. The consultation has now closed, and a Government response will follow in due course once all feedback has been reviewed.
Business owners struggling to pay their bills should contact their supplier to discuss their options, including ‘blend and extend’ contracts, where the higher unit rate is blended with a new lower rate, spreading the cost over the course of a long contract.
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