Keeping UK energy bills down over winter cost almost £40bn, Treasury says

The government has sharply curtailed its support since March as energy market prices have tumbled from their highs last year. Photograph: Murdo MacLeod/The Guardian

The UK’s cost of keeping energy bills down for homes and businesses over the winter months added up to almost £40bn, the first official government total shows.

The Treasury pegged the final cost of keeping a lid on the UK’s energy bills at £39.3bn between October 2022 and March 2023 after Russia’s invasion of Ukraine propelled energy market prices to record levels.