Since the start of the pandemic, it's been essential for stakeholders within the energy industry to adhere to some invariable principles: protecting consumers, ensuring secure energy supplies, and maintaining the safety of customers and employees.
We review some of the guidance provided by Ofgem on how businesses can access additional support from the energy sector if they have been affected by COVID-19.
Naturally, governments around the world are responding to the crisis, implementing wideranging measures to control the virus. The UK government regularly updates its official guidance, providing televised COVID-19 briefings and updating guidance online.
In this article, we review some of the guidance around energy support for businesses, relevant to companies who have been affected by COVID-19 and are looking to manage their energy supply.
Is there support available for businesses struggling with bills?
There are many government schemes available for businesses struggling with finance. Here is a quick summary of some of the support available:
-Loans, tax relief and cash grants, including a new temporary Coronavirus Business Interruption Loan Scheme, (CBILS), available through participating lenders
-The right to apply for staff to get up to 80% of pay if they can’t work, with some contributions from employers (commonly known as the ‘Furlough’ scheme)
-Grants of up to £2,500 per month, for at least three months, for the self-employed who are unable to work, on the provision of valid documentation
-Statutory Sick Pay (SSP) refunds
The government website also provides a more comprehensive guide to provide financial support for businesses.
What about stopping Direct Debit payments?
Some businesses have resorted to this method as a solution to cashflow problems. But this might not be a good idea as businesses will incur fines. Suppliers should always be informed of your financial situation.
For all Northern Gas and Power customers, Business Account Managers are able to arrange contact between businesses and their energy supplier to find a resolution going forward.
What about suspending bills?
Firstly, the energy supplier should be made aware of any change in circumstance. This is something that our Business Account Managers can help with or arrange. If an arrangement cannot be agreed upon, or if the help from suppliers is unsuitable, it may be worth revisiting the government’s financial support packages to see if further provisions can be made.
Alternatively, a much quicker and more feasible option is to check if switching tariff or energy supplier will help reduce the cost for business energy.
For businesses who have not recently switched supplier, a renewal offer is more likely to offer favourable prices, including cheaper standing charges. Switching business energy may be the most convenient way to save money on energy supply.
To look into possible savings on a business energy renewal, Northern Gas and Power are available on +443300300800. Alternatively, you can use our 10-second price comparison website BusinessEnergyQuotes.com.
What are Northern Gas and Power doing?
As far back as January 2020, we responded quickly to the challenges presented by the pandemic by instating a raft of operational changes. We acted immediately, even before national lockdowns were enforced.
It was important for us to create an atmosphere with the best interests of our employees and our clients in mind. With many of our clients involved in critical services, such as NHS Surgeries, Care Homes and Schools, it was essential for us to help maintain our energy services to keep these operations running. We also offered our internal departments, including our bureau, legal, finance and IT departments, pro bono, to any business that needed advice on implementing government support packages.
To ensure that our services could continue safely, we invested in new, emergency office spaces as well as investing in technology to allow for homeworking Remote Distributed Teams.
Responsibility regarding COVID-19 has been incumbent upon us as a leading business in the North. We’ve consistently gone above and beyond expectations in this unprecedented time. We always continue to keep updated with the advice from government, and we’ll continue to act accordingly with the best interests of our employees and our clients in mind.
More info: ngpltd.co.uk
