Truss plans energy-aid package for UK businesses

Incoming Prime Minister Liz Truss is finalizing plans for a £40 billion ($46 billion) support package to lower energy bills for UK businesses.

Truss is considering two options, one of which is a cap on firms’ energy costs similar to a proposal that would protect British households. The other option is a percentage or unit price reduction that all energy suppliers must offer companies, according to documents seen by Bloomberg.

The government would reimburse energy suppliers for their losses, under the plans, and the price of energy charged to businesses would be reviewed quarterly.

Limiting households’ bills could cost as much as £130 billion over the next 18 months, according to policy documents seen by Bloomberg.