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.