Liz Truss Unveils Plan to Limit Energy Bills
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.