Householders have been warned that energy bills could rise to £4,000 a year from April after Chancellor Jeremy Hunt scrapped the energy price guarantee. The guarantee, which caps the average family energy bill at £2,500 a year, was due to be in force for two years.
But scrapping almost everything announced by former Chancellor Kwasi Kwarteng three weeks ago, Mr Hunt yesterday said the guarantee will now end in April. The Resolution Foundation think tank warned that could mean even middle-income families unable to pay for gas and electricity.
Chief executive Torsten Bell said on BBC Radio 4’s Today programme: “It’s a big deal, if he (Chancellor Jeremy Hunt) did scrap all of that he’s saving up to £40 billion, but it’s a big deal for households too because our bills are due to hit £4,000 in April.
