Business Express is an online portal that covers the latest developments in the world of business and finance. From startups and entrepreneurship to mergers and acquisitions, Business Express provides reporting on the stories that matter most to business leaders and decision-makers.The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
2022 11 01T074632Z 1 LYNXMPEIA014Q RTROPTP 4 BRITAIN POLITICS - Business Express
FILE PHOTO: People walk outside the Houses of Parliament at sunset following a thunderstorm in London, Britain, October 23, 2022. REUTERS/Henry Nicholls/File Photo

UK’s National Grid launches 50 million pound energy support fund

By Nina Chestney

LONDON (Reuters) – Britain’s National Grid said on Tuesday it has launched a 50 million pound ($58 million) fund to provide financial relief for consumers struggling with rising energy costs for over the next two winters.

The fund will target charities which provide immediate, emergency financial support to households using pre-payment energy meters, charities which fund energy efficiency measures and charities which provide advisory services for households who need help with energy bills, payments and debt.

Many people in Britain are already struggling to weather a cost-of-living crisis, with rising energy bills piling on top of higher food prices and rising inflation.

As wholesale gas and power prices have soared over the past year, the knock-on effect on household and business’ retail bills has become more pronounced, plunging millions into fuel poverty.

“We’re under no illusions that this winter will be financially very, very hard for many people and we’re determined to play our part to help ease the financial burden that households will face,” said John Pettigrew, chief executive of National Grid.

Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.

The Fuel Bank Foundation, which gives emergency financial support to households with a prepayment meter who are at risk of living without power, will receive 10 million pounds from the fund.

Citizens Advice and Affordable Warmth Solutions, which provides new, free home insulation to households which do not qualify for government schemes, will also receive 10 million pounds each, National Grid said.

($1 = 0.8688 pounds)

(Reporting by Nina Chestney; Editing by Kirsten Donovan)


Recent Post: