The new Prime Minister Liz Truss announced an energy price freeze today to help tackle the soaring cost of energy bills.
It means that people concerned with being able to afford their energy bills will receive a small respite in the face of a cost of living crisis. Ms Truss announced that the energy price cap will freeze at £2,500. However, concerns were raised by experts that an energy price cap freeze would have to last for more than a year to be effective or run the risk of people spending more on energy bills once the freeze is lifted.
Money saving expert Martin Lewis said ahead of the announcement that the freeze "has to be in place for at least 18 months to two years to be able to give people the peace of mind that is needed". Now, the Prime Minister has laid out the timeline for the energy freeze plan.
