British Gas Increases Support for Great British Businesses with grants and lower priced contracts

Media Relations

T: 01784 843000

E: media@centrica.com

British Gas is continuing to support great British businesses with a £15 million fund which provides grants to small businesses including pubs, cafes, restaurants, hairdressers, shopkeepers, and charities that are crucial to our high streets and communities and need help with energy costs.

The company has already given £7 million in support spread across over 4,000 business customers with average grants of £1,700. The majority (74%) of grants have gone towards high street support such as sole traders in retail, bars, restaurants, and community services.

Many businesses are facing increased cost pressures as they find they are currently in contracts set when wholesale costs were at a peak whilst now receiving less Government support under the new Energy Bill Discount Scheme than under the previous scheme¹.

In addition to grants, British Gas will be helping some businesses with the opportunity to extend their existing contract term by 12 months in order to significantly lower their current rates. These “blend and extend” contracts would give businesses who are on higher rates the option of spreading costs over a longer period.

Businesses who are eligible for grants or new contracts will be contacted by British Gas in the coming months and don’t need to do anything to apply.

British Gas already has a £50m support package in place and has been providing grants up to £1,500 to residential customers in need since the start of the energy crisis.

Chris O’Shea, Chief Executive of Centrica, parent company of British Gas said: “We know how vital small businesses are to our economy, and we understand how many are really struggling with increased interest costs, business rates, and higher energy bills. That’s why earlier this year we launched our £15m support fund, the only supplier fund of its kind, to provide some much-needed support to our amazing small business customers. We know these businesses are struggling right now and need support beyond just energy costs so we all have to do our bit. We hope that by continuing to provide grants and by introducing more affordable contract rates, we can ease the pressure caused by energy costs.

“We’ve already done far more than any other supplier to help consumers through the energy crisis with cash grants, and we are constantly reviewing our support to make sure it’s getting to where it’s needed most. We continue to provide targeted pre-payment support of non-repayable credit and the British Gas Energy Trust fund has recently opened for new grants to residential customers struggling with energy costs.”

Tina McKenzie, Policy Chair of the Federation of Small Businesses (FSB) said: “Allowing small businesses to come out from the energy contracts they fixed during market peak last year is vital to their survival. British Gas is doing the right thing to adopt our call and give small businesses the option to ‘blend and extend’. We hope this is made available to all small business customers who are trapped in fixed tariffs from last year’s peak period. Now is the time for other energy suppliers to follow suit.”