Prime Minister Liz Truss has confirmed a new energy price guarantee which will freeze the price cap for average household bills to no more than £2,500 from October 1.
This comes after Ofgem set the price cap at £3549 to which charities and experts urged the UK Government to intervene. While the current price cap is at £1,971, all homes will still receive the £400 energy discount that is being given out in instalments.
Speaking to the House of Commons on September 8, Ms Truss announced that the Government plans to set up fund for those using heating oil, living in park homes or those on heat networks to ensure that all UK consumers will benefit from “equivalent support".
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For businesses who are struggling with energy bills, the Prime Minister has pledged support for them for six months, with targeted support for vulnerable firms beyond that.
Speaking in the Commons, Ms Truss said: “We are supporting this country through this winter and next and tackling the root causes of high prices so we are never in the same position again.”
She went on: “For those using heating oil, living in park homes, or those on heat networks, we will set up a fund so that all UK consumers can benefit from equivalent support.
“We will deliver this by securing the wholesale price for energy while putting in place long-term measures to secure future supplies at more affordable rates.”
This story is breaking and we'll update as more information is given.
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