Following a series of political readjustments from the new Chancellor, the Energy Price Guarantee has changed.
Initially, former Chancellor Kwasi Kwarteng announced in a mini-Budget that energy bills would be frozen at £2,500 for two years and would be applicable to every household in the country. However, following his departure and the appointment of Jeremy Hunt as his replacement, the scheme has taken a drastically different direction.
Instead of lasting for two years for every household, Mr Hunt announced that this will be rolled back and will only be in place until April 2023. The change comes as the Chancellor desperately tries to reel in the markets and stabilise the economy following a financially disastrous mini-Budget.
