UK Announces Energy Price Bailouts for Businesses This Winter

LONDON (AP) – Britain’s government said Wednesday it will cap wholesale energy bills for businesses this winter to ensure companies don’t go bust amid soaring energy prices.

Authorities said the government will pick up nearly half of all business energy bills for six months starting Oct. 1 to ensure companies “are able to get through this winter.”

“We´re going to review it after six months. We´ll make sure that the most vulnerable businesses like pubs, like shops, continue to be supported after that,” said Prime Minister Liz Truss, who is in New York to attend the U.N. General Assembly.

Treasury chief Kwasi Kwarteng said the government measures would “stop businesses collapsing, protect jobs and limit inflation.”

Officials have not provided details on how much the support package will cost, but it is expected to run to billions of pounds (dollars).

The news followed similar measures announced earlier this month to cap domestic energy prices to help…

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