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UK's Truss plans $46 billion energy package for businesses - Bloomberg

Reuters
Updated ·1-min read

LONDON (Reuters) - Incoming British prime Minster Liz Truss is planning a 40 billion pound ($46.22 billion) support package for businesses to help them cope with rising energy costs, Bloomberg News reported on Tuesday.

The plan would involve discounting firms' energy bills by fixing the wholesale price of gas and electricity, with the government making up the difference, Bloomberg reported.

Truss, who is due to take office later on Tuesday, has promised to act immediately to help households cope with soaring gas and electricity prices. She has not publicly set out details of her plans for consumers or businesses.

Citing documents, Bloomberg said Truss was considering either setting a guaranteed unit price for businesses, or a reduction that all energy suppliers must offer firms.

Truss's spokeswoman did not immediately respond to request for comment.

($1 = 0.8654 pounds)

(Reporting by William James and Akanksha Khushi; editing by Michael Holden)