Home Business News Prime Minister could announce an ‘unavoidable’ two year energy bill freeze this week costing £100 billion

Prime Minister could announce an ‘unavoidable’ two year energy bill freeze this week costing £100 billion

by LLB political Reporter
6th Sep 22 1:07 pm

The Prime Minister Liz Truss could be announcing later this week an energy bill freeze for millions of households as we are approaching the winter months.

On Monday evening Truss met with energy chiefs to work out a way forward with terms of a freeze on bills, which could last for up to two years and could cost around £100 billion.

This move would see the government subsidise the cost of gas which supplies energy companies for their electricity generators, this move could see the price cap remaining at £1,971 for the average household.

Paul Johnson the director of the Institute for Fiscal Studies, Paul Johnson, said a freeze for energy bills is “unavoidable.”

Sir Iain Duncan Smith said £90 billion is the “sort of money that they may well be looking at.”

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