Racing businesses wait for more detail on government help with energy bills

Businesses across British racing were waiting for more details on Thursday about the assistance they are set to receive from government to mitigate the effect of soaring energy bills.

Racecourses have been said to be bracing themselves for a "rough ride" due to the increase in energy prices this winter.

Last month gambling industry body the Betting and Gaming Council also said that "urgent action" was needed to protect the hospitality and leisure sector from "catastrophic" energy price hikes, saying betting shops were being hit hard by soaring bills.

Prime minister Liz Truss told the House of Commons on Thursday that from October 1 a new energy price guarantee will mean a typical UK household will now pay up to an average £2,500 a year on their energy bill for the next two years, which she claimed would save the average household at least £1,000 a year based on current energy prices.

Truss said: "I'm acting immediately so people and businesses are supported over the next two years, with a new energy price guarantee, and tackling the root cause of the issues by boosting domestic energy supply.

"Extraordinary challenges call for extraordinary measures, ensuring that the United Kingdom is never in this situation again."

The government announcement acknowledged businesses had not benefited from an energy price cap and were not always able to benefit from fixed energy deals.

The statement said a new six-month scheme for businesses and other non-domestic energy users would "offer equivalent support as is being provided for consumers".

It added: "This will protect them from soaring energy costs and provide them with the certainty they need to plan their business."

The government said it would provide "ongoing, focused support for vulnerable industries" after that six-month period ended.

In response, the Federation of Small Businesses said small firms would be "reassured" by the announcement but that it was "very high-level and sparse on detail".

Last month the Jockey Club, which operates 15 courses and a number of other venues, said its fixed-price energy deal was due to end shortly and had predicted an increase in costs of £2.5 million next year.

Trainer Rod Millman told the Racing Post that his energy costs had been set to more than quadruple from £3,000 per year to more than £13,000.

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