UK businesses to pay four times more for electricity than in 2020

Calls for Covid-style support for energy bills

Businesses renewing energy contracts this autumn will be required to pay four times the price compared to 2020, new research from consultancy firm Cornwall Insight indicates.

UK ministers have warned firms could face a "cost of doing business crisis" as commercial energy bills spike over the next couple of months. Fixed prices for companies have been set in October since energy markets were privatised. As the majority look to renegotiate their rates amid an energy crisis, the British Chambers of Commerce has written to Boris Johnson, chancellor Nadhim Zahawi and leadership candidates Truss and Sunak, calling the government to implement a "Covid-style support for energy bills" to help ease the burden of soaring bills on companies and households. Government ...