Liz Truss set to unveil plans to cut energy bills for millions
PM Liz Truss will unveil her plans to help the public amid soaring energy prices. The government plans are expected to limit energy bill rises, spending billions to protect people from rising prices.
The government is expected to borrow at least £100bn to pay for it – it’s not clear how long the support will last.
The current energy price crisis means a typical household’s annual gas and electricity bills will likely rise from £1,971 to £3,549 in October.
Experts and charities have warned that if the government fails to help with the crisis, many lives will be at risk this winter and many people struggle with basic living costs.
To limit the rise in bills for customers, the government is expected to compensate energy firms for the difference between the wholesale price for gas and electricity they pay and the amount they can charge customers.