I welcome the new Prime Ministers announcement, committing to further support for households and businesses who are facing increasing living costs and energy bills.
The Government recognises the scale of the situation and how concerning this is for many people and has put together a comprehensive package of support in time for this winter.
Further support for households
- An energy price guarantee, freezing household bills at £2,500 from October 1st and lasting for two years, and cancelling next month’s planned rise to £3,549.
- This will save the average household £1000 per year.
- For those who use oil, live in park homes or are on heat networks, a fund has been introduced to ensure they benefit from the price cap.
- The most vulnerable UK households will also continue to receive £1,200 of support provided in instalments over the year.
Support for businesses
The Energy Bill Relief Scheme will help to cut energy prices for businesses, charities and public sector organisations, such as schools and hospitals.
- The Government will work with suppliers to reduce wholesale energy costs – and the significant rises in bills that businesses have seen.
- The scheme will run for 6 months covering energy used from 1/10/22 – 31/03/23.
- As with the Energy Price Guarantee for households, customers do not need to take action or apply to the scheme to access the support. Support (in the form of a p/kWh discount) will automatically be applied to bills.
