From 1 April 2022, energy bills are set to rise by 54% and they are predicted to rise again in October.
For community owned spaces, many of which are still suffering the economic impact of Covid-19, there is a big risk to their financial position and the services they provide to their community.
Federation of Small Businesses (FSB) said that micro businesses, which employ fewer than 10 people each but a total of 4.2 million employees across the country are “in trouble”. Unfortunately, small businesses are not covered by the energy price cap or government support meaning they are even more exposed to fluctuations in the wholesale gas market, which are behind the energy bill rises. This lack of protection is all the more concerning for small and community businesses with inflationary pressures driving rising costs across supply chains too.
The only long-term solution to this problem is accelerating a shift to a fairer, greener economy, including a nationwide energy efficiency programme and an expansion of local and community energy. This would deliver significant benefits to places and people across the country including local green jobs and warmer, more comfortable homes.
At Power to Change, we are committed to supporting community businesses to play their role in the fairer, greener economy. Sign up to our newsletter for the latest news and information about our work.
As some community businesses expect their energy costs to double, we have compiled a few places that you may be able to go for support in the first instance:
- Citizens Advice – Support and information if your small business can’t afford its energy bills
- Ofgem – Advice and help if your business can’t afford its energy bills
- SME Climate Hub – Support to help you understand and cut your carbon emissions
- Which? – Podcast and article: Ease the squeeze: how to save on your energy bills