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Reuters
Reuters
Business

Truss to freeze household energy bills with subsidy: source and reports

FILE PHOTO: Liz Truss leaves the Conservative Party headquarters, after being announced as Britain's next Prime Minister, in London, Britain September 5, 2022. REUTERS/Peter Nicholls

Britain's new prime minister Liz Truss is planning to freeze household energy bills at broadly the current level this winter using government-backed loans to energy suppliers, according to a government source and reports.

The scheme could cost around 100 billion pounds ($116 billion), according to a person familiar with the situation, but the precise amount would depend on its duration, wholesale prices and market demand.

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