Energy companies are in line for a taxpayer-backed rescue amid mounting concern that business customers are unable to pay their bills. The power industry has agreed to help any customers in financial distress – potentially by pausing or reducing their bills – and has approached the government for financial help to do so. No agreement has been finalised, but talks are now believed to be focusing on help for business customers after swathes of them were starved of income when ordered to shut down. Energy suppliers serving these businesses are under added pressure because demand for electricity has fallen – meaning they are left with surplus power, which some have been selling back into the market at a loss.
Telegraph 26th April 2020 read more »