Firms across the UK will see government-funded cuts to their energy bills in line with the reductions that have already been announced for homes.
The level of discount will depend on what companies are already paying but respected market expert Cornwall Insight said the scheme represented a 45% discount to closing wholesale energy prices as at the end of last week.
It predicted it would cost the taxpayer around £25bn while the business secretary admitted it would “unquestionably” run to “tens of billions”.
