The Government has released a new chart showing how much the Energy Price Guarantee will cut your gas and electricity bills from October 1. Bills had been set to soar at the start of next month - going up by around 80% - but Prime Minister Liz Truss has announced a scheme to prevent that.
Bills will stilll go up, especially as we head into winter and people begin using heating, but will not go up by as much as had been feared. And future increases planned for January and April are also on hold.
Households could save up to £1,400, under Liz Truss's new plan. The chart shows that a family living in a detached property on typical use would have spent £4,700 a year on energy bills under the October price cap. However, this will be frozen at £3,300 - a saving of £1,400, reports The Express.
