Energy price cap freeze: What it will mean for energy bills – everything you need to know | Personal Finance | Finance
New PM Liz Truss is due to make an announcement to the Commons later this morning, and reports suggest she will freeze energy bills at £2,500 a year.
The price cap is currently £1,971, and a £400 energy bill rebate is due to be applied in instalments over the coming months – a measure announced by Rishi Sunak when he was Chancellor.
It would mean the October price cap rise will not go ahead as planned – which will be a huge relief to millions of households and businesses struggling with the cost of living this winter.
Ms Truss told PMQ’s yesterday: “I will make sure that in our energy plan we will help to support businesses and people with the immediate price crisis, as well as making sure there are long-term supplies available.”
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