Truss borrows billions to freeze home energy bills – but business support less clear

Companies without financial firepower face the hardest struggle, writes James Moore

Primark has the means to tackle soaring energy costs but smaller firms will struggle (Reuters)

After days of speculation, the plan from Liz Truss to tackle soaring energy costs has been announced; consumers’ energy bills will be frozen at £2,500 for the next two years.

A secondary package of support for businesses and institutions such as schools has also been announced, but that lasts only six months and the details are sketchy.

Let’s deal with consumers first. In addition to the bill freeze, the £400 rebate already promised to domestic consumers covered by Ofgem’s price cap will continue to be paid, and £150 of green levies will be scrapped, further reducing costs.