Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what plans his Department has to further reduce energy costs for small and medium size enterprises.

We are closely monitoring the impact of energy prices on businesses caused by the instability in the middle east, and much will depend on the length of the ongoing crisis. We are increasing the Boiler Upgrade Scheme (BUS) grant for properties heated by oil and LPG, taking the total grant to £9,000. This will help SMEs in England and Wales most impacted by rising energy prices to electrify their heating and provide greater certainty over energy bills.

The Government’s primary focus is on ensuring energy is affordable for all businesses and we work closely with Ofgem to identify and implement policy changes which can improve the non-domestic market.

The Government plans to directly regulate Third-Party Intermediaries (TPIs) by appointing Ofgem as the regulator when parliamentary time allows. At their best, TPIs can have significant impact on the cost of energy for businesses by helping consumers secure contracts that meet their needs. However, not all TPIs are living up to this ideal. A regulated market will ensure that businesses can save money on their bills through improved competition and lower commissions.

The conflict in the Middle East is yet another reminder that the only route to energy security and sovereignty for the UK is by getting off the rollercoaster of volatile fossil fuels and onto clean homegrown power which we control, to bring down bills for good.