Energy regulator Ofgem announced last month that the next energy price cap would see bills rise by 80% percent from £1,971 to £3,549 - but new Prime Minister Lizz Truss ’ flagship plan will now replace it.
The PM announced her plans to freeze energy bills for the next two years, meaning a typical household in Britain will pay no more than £2,500 a year on their energy bills until October 2024.
The new scheme, known as the Energy Price Guarantee (EPG) aims to keep the amount paid on energy bills at less than half the costs predicted for the upcoming winter months.
