Chamber fears on energy costs support

Aberdeen & Grampian Chamber of Commerce has highlighted UK Government support for companies struggling with energy bills may not arrive until November – raising fears it may be too late for many firms.

More details of the scheme are expected next week.

A chamber statement said: “A government spokesperson told the BBC the help would be backdated, and cover the period from October 1. Last week Prime Minister Liz Truss said firms would get ‘equivalent support’ to the help announced for households whose bills would be capped at £2,500 for two years.

“But companies are still in the dark as to what that actually means for them, including how much support they will get.”

The chamber cited a government spokesperson saying: “We will confirm further details of the business support scheme next week. The scheme will support businesses with their October energy bills, including through backdating if necessary.”

And a “government source” said the precise mechanism and amount of support may not be finalised until November.

Scottish Engineering (SE) chief executive Paul Sheerin said: “It’s great to have a broad statement but we need details like how it’s going to work, eligibility and any special conditions. Will some parts of industry be given priority?”

Mr Sheerin added: “One of our members has seen its energy bill rise from £15,000 a month to £80,000 a month. That’s a level which puts its future at risk. So they’ve had to talk to their accountants about voluntary liquidation – even though their order book is filled to the middle of 2023.”