Advertisment
NEWS COST OF LIVING

Liz Truss planning £2,500 energy bills freeze

Liz Truss planning £2,500 energy bills freeze

By nation.cymru

8 months ago   1120 views

...

The new Prime Minister, who took office after meeting the Queen in Balmoral, is thought to be planning to freeze bills at around the £2,500 mark – some £500 higher than current levels but more than £1,000 below next month’s cap.

Details have not yet been finalised, but the plan is expected to be funded through general taxation or increased borrowing rather than paid for in future energy bills.

Ms Truss became the UK’s third female Prime Minister after meeting the Queen at her Scottish estate.

The handover of power from Boris Johnson took place at Balmoral rather than Buckingham Palace because of the 96 year-old monarch’s mobility problems, with Ms Truss becoming the Queen’s 15th prime minister.

Ms Truss, who won the Tory leadership on Monday, will travel to Westminster for a TV address from Downing Street later on Tuesday afternoon.

Ms Truss will face her first session of Prime Minister’s Questions in the Commons on Wednesday and could set out her energy package on Thursday.

A Government source confirmed a Times report that the energy freeze will be at around the £2,500 mark, although an insider in the Truss camp said “nothing is finalised yet”.

The plan is based on the current £1,971 energy price cap plus the £400 universal handout announced under Mr Johnson’s government.

Help is also expected for business customers struggling with soaring bills which are not covered by the existing energy price cap in England, Scotland and Wales.

Opposition politicians called for oil and gas firms to pay for the freeze in bills, rather than letting taxpayers pick up the tab.

Liberal Democrat leader Sir Ed Davey said:

“Liz Truss spent weeks during this summer leadership contest leaving families and pensioners worried and in limbo by refusing to set out her plans to tackle soaring energy bills.

“Now she seems set to make our children pick up the tab for this mess, while letting oil and gas firms making record profits off the hook.”

 Read the rest of this story on nation.cymru
Get involved (0 comments)

You must be signed in to comment. Sign up for a free account now.


Related or similar stories based on this one

Image for the article Liz Truss sets out plan to shield households and firms from soaring energy prices
Liz Truss sets out plan to shield households and firms from soaring energy prices

8 months ago

Image for the article Liz Truss to hold mini-budget before the end of the month
Liz Truss to hold mini-budget before the end of the month

8 months ago

Image for the article Critical report released over Council planning functions
Critical report released over Council planning functions

2 weeks ago

Advertisment
Follow us

Connect with us on Facebook, Twitter and Instagram

   

Trending
Road closed after fire

1 day ago 2672 views

Local man banned for drug driving

2 days ago 1452 views

Newtown man jailed for bottle attack

2 days ago 1348 views

Donate to us

We're a not-for-profit community interest company and have no corporate owners. We'd appreciate anything you can give to keep us providing free content.

  Donate via PayPal
Upcoming Events
Piano Recital with Paul Turner

04/06/23 03:00pm Oriel Davies Gallery

Newtown March and Open Air Contest

11/06/23 11:00am Town Hall Grounds

Footloose Dance Group Showcase

16/06/23 07:00pm Theatre Hafren

Latest Stories
 
Town Partnership plans move forward
 
Newtown nail salon Nail Envy named Wales' best
 
Natural Resources Wales gives draft approval to controversial recycling centre