The scheme, which started this month is expected to last for six months.
The support will come in the form of a wholesale price capped at 21.1p per kWh for electricity and 7.5p per kWh for gas.
Businesses that have updated their energy contracts after 1st December 2021 will now be eligible to benefit from the scheme.
For fixed contracts, the discount will reflect the difference between the government-supported price and the wholesale price for the day the contract was agreed upon.
For variable, deemed and other contracts, the discount will reflect the difference between the government-supported price and relevant wholesale price but it will be subject to a ‘maximum discount’ of 34.5p/kWh for electricity and 9.1p/kWh for gas.