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Energy suppliers – Accounting implications of energy bill reforms in 2022/23
Publication date: 30 Mar 2023
uk In depth INT2023-03
Foreword
Energy prices (for gas, oil and electricity) have been extremely volatile for over a year and prices significantly increased during 2022 in the UK and across the world. This was partly due to long term structural reasons and also as a result of the Russian invasion of Ukraine (see In depth 2022-05 Accounting implications of the Russian invasion of Ukraine) and other cost inflation (see UK In depth 2022-12 Navigating IFRS Accounting Standards in periods of rising inflation). Although prices have since fallen, they continue to be higher than was historically the case resulting in governments taking action around the world.
This publication considers the accounting implications for energy suppliers of initiatives in the UK Government’s Energy Prices Bill aiming to limit the effect on businesses and domestic customers.
Contents
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