BREAKING: Energy price guarantee capping bills at £2,500 extended to June
A major expansion of free childcare and an extension in support for household energy costs will help ease the cost of living as Jeremy Hunt sets out a “Budget for growth”.
Prime Minister Rishi Sunak said: “We know people are worried about their bills rising in April, so, to give people some peace of mind, we’re keeping the energy price guarantee at its current level until the summer, when gas prices are expected to fall. Continuing to hold down energy bills is part of our plan to help hardworking families with the cost of living and halve inflation this year.
The Energy Price Guarantee, which is protecting households by capping typical energy bills at £2,500, will be maintained at the same level for a further three months over April, May, and June, worth £160 in total for a typical household. The Government says their support has already cut the typical family energy bill by over £1,300 since October, stopping the average household energy bill hitting £4,279 a year this winter.
Energy Secretary Grant Shapps said: "Putin’s illegal war has cost British families, which is why we’ve stepped in to pay around half of the typical household energy bill. With wholesale prices falling families will start to benefit, but in the meantime we’re stepping back in with the Energy Price Guarantee to prevent the typical electricity and gas bill exceeding £2,500. It’s just part of our plan to help families this winter.
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