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READ MOREAverage energy bill forecast to hit £4,347 after Truss U-turn on support
The average annual energy bill will rise to more than £4,000 from April after Liz Truss’s U-turn over her policy to ease the cost of living crisis, according to the sector’s leading forecaster.
The price cap for a typical dual-fuel tariff will now be £4,347 in six months’ time if the government does not offer special support, according to the consultancy Cornwall Insight.
The new chancellor, Jeremy Hunt, said on Monday that the energy price guarantee (EPG), which caps the unit price of energy and was intended to last for two years from this month, will now be limited to six months.
A Treasury review is in progress to devise ways of targeting the policy at those consumers most in need of support, which will “cost the taxpayer significantly less” after April.
Read more at The Guardian
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