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Britain caps electricity, gas prices for businesses amid soaring costs

Britain government said wholesale prices for electricity would be capped at 211 pounds ($239.17) per megawatt hour (MWh) and for gas at 75 pounds per MWh.

Published on: Sep 21, 2022, 14:02:17 IST
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Britain said it would cap the cost of electricity and gas for businesses on Wednesday following a similar scheme for consumers, helping relieve the pressure of soaring energy costs.

Liz Truss, UK prime minister, delivers a first speech in London, UK.
Liz Truss, UK prime minister, delivers a first speech in London, UK.

It said wholesale prices for electricity would be capped at 211 pounds ($239.17) per megawatt hour (MWh) and for gas at 75 pounds per MWh.

Read more: ‘Those who remain silent today…’: Macron to fence sitters in swipe at Russia

The government will compensate suppliers for the reduction in wholesale gas and electricity unit prices that they are passing onto non-domestic customers, it said.

 
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