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UK to Cap Household Energy Bills at £2.5K: Truss
Posted
September 8, 2022
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September 8, 2022
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0:57Now PlayingLiz Truss’s UK government announced a sweeping package of measures to contain spiraling energy bills, seeking to ease a historic squeeze on the cost of living that’s likely to define her premiership.
Truss’s plan would cap the average cost of energy for households at £2,500 a year from October, well below the £3,548 they would have paid without the intervention. Consumers also get a £400 subsidy that’s already been announced. The program will last for two years, and businesses will get what the government described as an equivalent intervention lasting an initial six months.
“I recognize that people are struggling with their energy bills,” the new British prime minister said in the House of Commons on Thursday. “This is the moment to be bold. We are facing a global energy crisis, and there are no cost-free options.”
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