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 Government responds to soaring gas and electricity prices. Without intervention, the average household energy bill would have jumped 80% 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. It will apply to all households in Great Britain, with the same level of support made available to those in Northern Ireland.
