13 September 2022
Hair & beauty businesses will be reassured by the Prime Minister's recent announcement of the Energy Price Guarantee for families and businesses, but will need more detail in order to plan for winter.
Responding to the announcement of support for small businesses to ease the energy cost crisis, Richard Lambert, NHBF chief executive, said:
“We’re pleased that the government has responded to our call for emergency energy support for hair & beauty businesses over the next six months. Businesses now urgently need clarity on the details of the scheme in order to help them to plan for the coming months”.
The announcement is currently very high-level and lacking in detail, so it is important that the government clarifies what happens next, so that businesses can plan for the next six months and beyond.
There are still several unanswered questions, including:
What will be the fixed unit prices (and standing charges) from 1 October?
What will now change in practice for businesses looking to change their energy contract?
As a small business normally gets quoted for at least 12 months, will new quotes include six months at a low rate and six months at a higher, uncapped rate?
Any future definition of ‘vulnerable industries’ will also need to recognise the hair & beauty sector’s recovery remains fragile, having ridden the rollercoaster volatile business environment of the last two years of restrictions and now facing the ‘cost of doing business’ crisis.
Direct Business Solutions, the NHBF’s partner for providing energy consultancy services, is not in a position to help you to find the energy contract best suited to your business’s needs until it becomes clear what will happen next with the energy price pledge.
Please look out for further updates as the NHBF continues to champion the needs of the sector whilst providing practical support to help Members with everyday challenges.