Prime Minister Liz Truss has announced that the typical UK household will pay no more than £2,500 a year for energy for the next two years from October 1 as the UK Government responds to soaring gas and electricity prices.
Without intervention, the average household energy bill would have jumped 80 per cent from October 1, from the current £1,971 to £3,549 a year under Ofgem's latest price cap. Ms Truss has announced that a new Energy Price Guarantee will supersede the existing price cap until 2024 - the year the next general election is expected.
The £2,500 Energy Price Guarantee will apply in Scotland, England and Wales from October 1, with the same level of support made available to Northern Ireland, which has a separate energy market. Below is everything you need to know about the plan including Direct Debits, fixed tariffs and the £400 energy rebate.
