Issue #55 - Energy Bill Support Cut ✂
How does EBDS differ from EBRS? And what does it mean for your bills? | How is energy bought and sold? | Has your business been hacked? | Why Brandon May Salon is a cut above | Tunes | Words | More
🦾 G O
EBRS OUT ❌ EBDS IN ✔ What does it all mean❓
Welcome to Issue #55 of The Backbone - the fortnightly newsletter from Bionic.
Support for business energy bills will be cut from April when the Energy Bills Discount Scheme (EBDS) replaces the Energy Bill Relief Scheme (EBRS).
Funding for the new scheme has been capped at £5.5 billion over the next 12 months. That’s a significant drop from the £18 billion that’s been spent across the six months that the EBRS has been running.
So don’t bank on the new scheme to make a massive dent in your energy bills.
It’s also worth checking whether you qualify. All non-domestic energy deals that were agreed on or after December 1, 2021, as well as deemed and out-of-contract rates, are eligible subject to the following threshold rates:
Gas - 10.70p per kWh
Electricity - 30.20p per kWh
If your rates are below this, you’ll not get any discount. And you won’t get the full discount if a partial discount takes your unit rate to these threshold levels.
There’s no need to apply. If you’re eligible, the discount should automatically be applied by your supplier.
We explain things in more detail in our guide to the Energy Bills Discount Scheme, but here are some things to keep in mind:
This is not a business energy price cap
It’s still worth comparing quotes to find the lowest possible rates
If your business qualifies as one of the Energy Trade Intensive Industries, the scheme works a little differently and you will need to apply. Details are still thin on the ground, but the latest government guidance is that:
Organisations will need to provide information on their organisation, energy supplier, relevant energy supply contract(s) references and applicable meter point references.
Eligible organisations will have 90 days from when they become eligible to apply for the higher support. For a majority, this will mean they have 90 days to apply from scheme opening.
Find out more about the scheme for Energy Trade Intensive Industries at the government website.
If you want a quick explainer of the scheme, watch the video below. For a more in-depth look at how it works, click the button 👇
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🗞 R E A D
If wholesale energy prices drop, why don’t energy prices drop at the same time? 🤔
If you’ve ever wondered why the price you pay for energy doesn’t seem to quite tally with rising and falling wholesale prices, it’s largely down to the way energy is bought and sold and the level of risk faced by suppliers.
To give you an idea of how it all works, our guide closely examines the energy market and how gas and electricity are bought and sold.
How to tell if your business has been hacked 👾
39% of UK businesses reported suffering a cyber attack in 2022, according to government figures. No business is too big or too small to fall foul of cyber criminals. And once the hackers are in, they can access your data and customer data. They could also meddle with your finances, impersonate your business and cause lasting damage.
Our guide will help you identify the main threats to help protect your business from hacking and online scammers.
🗣 S H O U T O U T
#BionicBusinessStory - Brandon May Hair 💇♀️
Bionic caught up with Sonya Roberts who runs Brandon May Hair in Manchester. We found out what makes the business a cut above the rest.
Bionic: What has been your biggest achievement as a business?
Sonya Roberts: After buying out my business partner a few years ago, I decided to make some changes and this has meant I've got a really strong team now. Having their support through Covid was invaluable and meant we had great client retention. We also won some awards which reaffirmed everything.
B: What has been your biggest struggle as a business?
SR: Covid, definitely. No one knew what was going to happen and having to navigate through the changes, while keeping the team morale up was really challenging.
B: What's your favourite part about running a business?
SR: Definitely seeing my team grow and develop in their careers.
B: How do you keep your staff motivated?
SR: We hold regular training sessions and keep in touch with regular 1-2-1s to help keep them on track. I'm able to understand what their biggest motivations are, and we come up with a plan together to help them reach their goals.
Click on the salon below to read more of this customer story.
Head over to Bionic to read more small business stories 🦾
📩 J O I N
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Our tech-enabled team will answer all your questions in simple terms, and help you find the best deal on business energy, insurance, phone, broadband, or finance. No jargon. No-fuss. #BeABionicBusiness 🦾
Duncan was delighted with our tech-enabled service 🦾
🎧 L I S T E N
Playlist 🎶
The news that Bristolian trip-hopper Tricky has released a new record has taken took us right back to the mid-90s when the Massive Attack, Portishead, and Tricky were at their peak. This Trip Hop playlist has seven hours of slow tempo, and atmospheric sounds from those already mentioned, as well as Leftfield, UNKLE, Boards of Canada, Air, and Nightmares on Wax. There’s also an unreal version of Bug Power Dust by Bomb The Bass.
Podcast 🎙
Have you noticed how the doors in public toilets don’t go all the way to the floor? And what’s the deal with dogs and cats taking over social media? Really? No, really? is a podcast that sees Jason Alexander (George Costanza from Seinfeld) and Peter Tilden (from the late-80s slasher film Shocker, if anyone remembers that) find improbable answers to these questions and more, via a series of tangents and detours.
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🚫 S T O P
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