Liz Truss will freeze energy bills at an average of £2,500 a year for two years from 1 October
and has pledged to tackle the root causes of the problems in the UK energy market through plans to increase supply, including the resumption of fracking.
The government will fund the scheme to reduce the unit cost of energy through increased borrowing. The cost is likely to be about £150bn
The so-called energy price guarantee will limit the price suppliers can charge customers for units of gas.
Truss will temporarily remove green levies worth about £150 a year on average from household bills. Her scheme will cover England, Scotland and Wales, but something similar is exp
Truss also announced schemes she said would increase energy resilience, including launching a new round of about 100 new oil and gas licences and lifting the moratorium on fracking
The prime minister said the average household would save £1,000 in total from October because of the price reduction, added on top of the £400 discount previously announced under
“Earlier this week I promised I would deal with the soaring energy prices faced by families and businesses across the UK,” Truss told the Commons. “And today I am delivering
She said: “This government is moving immediately to introduce a new energy price guarantee that will give people certainty on energy bills, it will curb inflation and boost growt
“This will save a typical household £1,000 a year. It comes in addition to the £400 energy bills support scheme. This guarantee supersedes the Ofgem price cap and has been agre