Prime Minister Liz Truss has confirmed that an energy price cap freeze will be implemented on October 1 and run for two years.
The energy price guarantee will cap the average energy bill to £2,500, after Ofgem announced the price cap would hit £3549, sparking fears of thousands of homes falling into fuel poverty.
Currently, the price cap is sitting at £1,971, the £2,500 is still an increase, but Ms Truss says it will save households £1,000 on average. There will also be a review in the next three months to look at industries most vulnerable and decide where the help should be targeted.
