As spring finally arrives in the UK after a long and difficult winter, the strain on household finances from exorbitant energy bills should begin to ease in the weeks to come.
The cost of living crisis remains acute but there was some good news for consumers in Jeremy Hunt’s Budget on 15 March, with the chancellor announcing that the energy price guarantee (EPG) – introduced by Liz Truss last September to ensure households paid no more than £2,500 for their electricity and gas, with the government subsidising the remainder permitted by Ofgem’s energy price cap – would be extended for a further three months.
