CIPFA Comment: government announces cap on business energy prices


In response to the government’s announcement of the energy price cap for businesses, Rob Whiteman, CIPFA CEO, said:

“Today’s announcement of government help with energy bills for businesses and public sector organisations will come as a big relief to many.

“Local authorities and other public sector organisations were facing eye-watering rises in energy costs, while needing to continue to deliver essential services. This cap will provide some certainty for the next six months and allow them to plan their finances.

“But the question on every public sector CFO’s mind will be what happens next. This price cap expires at the end of the current financial year, making it extremely difficult for public bodies to plan for the next one.

“There is no end in sight to Putin’s energy squeeze on the West and the UK remains a long way from energy independence.

“Public bodies, as well as consumers and businesses, need a long-term energy strategy to give them assurance and certainty – and affordable bills. Government must also ensure that any energy strategy doesn’t come at the expense of important net zero goals.”

Notes to editor:

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