On Monday, new Chancellor Jeremy Hunt said he and the Prime Minister had “reluctantly” agreed it would not be responsible to keep the £2,500 energy price guarantee beyond April 2023. The UK Government support replaced the Ofgem price cap and was originally planned to be in place for two years, until 2024.
The announcement will come as a blow to millions of households despite the Chancellor’s reassurance that a Treasury-led review will look at how the UK Government can support energy bills beyond April next year. He said the review’s objective would be to design a new approach that will cost the taxpayer “significantly less” than planned while providing help for those in need.
However, this is a statement from a new Chancellor who, on four separate occasions following his announcements in Parliament, refused to answer whether or not the State Pension Triple Lock guarantee would be observed for the annual uprating in April.
