UK’s New Prime Minister has announced plans to tackle the rising energy bills, saying that the typical household energy bill will be capped at £2,500 per year for two years, starting from 1 October 2022.
Based on expected prices, this will save people £1,000 per annum, she told MPs. This is because, in October, the energy price cap was expected to increase from £1,971 to £3,549.
Businesses are also receiving a six-month support package, which will include “equivalent support”. Further support will be provided to vulnerable industries after the six-month period.
"This is the moment to be bold. We are facing a global energy crisis and there are no cost-free options," the new PM told the Commons.
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