Prime Minister Liz Truss has confirmed that that domestic energy bills will be frozen at around £2,500 as part of a package to ease the cost-of-living crisis - a move set to cost an estimated £150bn.
The Ofgem price cap will be replaced with a 'two year energy price guarantee'. It means that a typical UK household will pay no more than £2,500 a year on bill for two years from October 1 - the run-up to the next general election.
Ministers will press on with a £400 bills discount that has already been announced.
