This week, the new Prime Minister Liz Truss took office at 10 Downing Street and quickly took the place of Boris and started busy with government affairs.
Earlier, the political and business circles pinned their determination to change the energy bill to the new prime minister, which has become the first priority for her to deal with urgently after taking office.
Addressing the household bill crisis and the pressure on businesses to keep up is on the agenda. The energy bill announced Thursday is part of a revival of the economy.
Queen Elizabeth II died peacefully at Balmoral Castle in Scotland on Thursday at the age of 96. Crown Prince Charles succeeded as King of England.
Current Energy Bills
The latest energy bill caps were mentioned earlier in our article.
Ofgem has announced an 80.06% increase in the energy price cap, increasing the annual bill for users from £1,971 to £3,549 from October.
According to statistics, the 4.5 million prepaid meter customers are usually the most vulnerable. Their average annual bill will be £3,608, making the fuel starvation even worse.
A previous analysis predicted that the energy price cap would rise to more than £4,000 in January next year.
Freezing Energy Bills
The “typical British household” will now pay no more than £2,500 a year for the next two years from October 1 in the energy plan announced on Thursday.
Although compared to the current point of view, it is still 500 pounds higher.
Compared to the October energy bill caps released earlier, this solves the winter worries of most households.
The government will still get a £400 bill discount after the government freezes the energy price cap for the average household at £2,500 for the next two years.
The government will remove £150 of green levy from the bill.
This will save the average household an average of £1,000 a year, but the policy does not apply to businesses.
The new energy supply working group will negotiate with suppliers to secure energy supplies this winter and implement bill freezes.
Other Energy Bills Supports
Currently, several agencies plan to use different models to help families in deep financial distress.
Suppliers plan to provide financial support to customers struggling to pay, and BG expects to spend 10% of its profits on helping families in need.
Energy bills help isn’t always the first solution to a household crisis. If your business or self-employment has other loopholes, you will also have a hard time getting through this winter.
Review your income and expenditure and tax bills, and if you have any doubts, please consult our professional team of lawyers.