The government has confirmed its plans to help colleges, training providers and other non-domestic energy users with their energy bills this autumn.
Ministers say their plan to reduce rates to a “government-supported price” of £211 per megawatt hour for electricity and £75 for gas will equate to a saving of £4,000 for a school or college paying £10,000 a a month for energy.
For comparison, the government said wholesale costs this winter are expected to be around £600 per megawatt hour for electricity and £180 for gas. College leaders had warned they faced four-fold bill hikes that threatened their insolvency.
The Department for Business, Energy and Industrial Strategy said it would compensate energy suppliers for the reduction, which will initially apply to energy use between October 1 2022 and March 31 2023.
