Powering on with plans to cut business energy costs

PLANS to extend discounts to cut electricity costs for thousands of businesses and bring them in line with foreign competitors are moving forward.

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The Government is launching a consultation on the changes, which it estimates could save businesses up to £420m a year.

It is hoped that the 500 most energy-intensive firms in the UK could save money on bills when the discount on network charge costs is raised from 60% to 90% from 2026.