The UK Government‘s Energy Bills Discount Scheme (EBDS) is set to conclude on 31st March, marking the end of direct financial support for businesses grappling with escalating energy costs.
Anthony Ainsworth, Chief Operating Officer at npower Business Solutions, acknowledges the scheme’s role as a short term solution amid unprecedented circumstances but highlights the absence of a sustainable long term policy for businesses navigating higher wholesale energy prices.
Anthony Ainsworth, Chief Operating Officer at npower Business Solutions, commented: “We know that businesses would welcome more incentives to invest in energy efficiency or to install on-site renewable energy generation.
“At the end of last year, the government outlined how it will allocate the £6 billion of funding for energy efficiency improvements that was originally announced in the 2022 Autumn Statement, which included £225 million for the Industrial Energy Transformation Fund and £1.25 billion allocated to the Public Sector Decarbonisation Scheme.
“£410 million was also allocated to ‘Industrial Energy Efficiency and Decarbonisation’, but as yet, we have not seen the detail, and the funding itself is not due to become available until 2025.
“This leaves a significant gap between the end of the EBDS and more potential funding for energy efficiency, when businesses really need support now.
“In this crucial election year, it is vital that the voice of business is heard. And, while some measures announced recently will be welcome, there is still the feeling that more could be done to support businesses, particularly when it comes to helping them proactively reduce energy consumption, and make the necessary investments to support net zero.”