The Government's measures for help with energy bills and the cost of living was announced on the sad day that Her late Majesty Queen Elizabeth II passed away.
We have been in a period of national mourning where across the country we paid our respects and marked the life and legacy of our late sovereign.
As the period of national mourning has now ended, I wanted to share the details of the announcement with you.
Earlier this month the Prime Minister announced plans to bring forward emergency legislation to establish a new Energy Price Guarantee, which will ensure that the average British household pays no more than £2,500 per year for their energy bills for the next two years from October.
This will save the average household at least £1,000 per year – giving certainty on energy prices so people can get through the winter, slowing inflation and making incomes go further. The government also announced a temporary suspension of green levies.
The Government will also deliver the £400 Energy Bill Support Scheme for everyone, and the £1,200 of support for the most vulnerable households that was announced earlier this year.
A discretionary fund will be established for those that live in park homes or who use heating oil in rural areas.
Businesses will be offered an equivalent guarantee for six months, and after those six months the Government will provide further support for vulnerable sectors, such as hospitality, including local pubs. The Government will work with businesses to review where this support should be targeted.
The Government will also establish a new Energy Supply Taskforce to negotiate new long-term contracts with suppliers to bring down energy costs. The Prime Minister also set out her ambition to make the UK a net energy exporter by 2040, including ending the moratorium on shale extraction, boost renewables including wind and solar, launch Great British Nuclear later this month, and create a pro-investor environment to speed up more domestic supply projects.
A review will also be held aimed at fixing longstanding problems with UK energy regulation.
It was also announced that the Chancellor will set out the expected costs of the energy package in a fiscal statement.
For further information and other help that may be available, visit the Help for Households website: https://helpforhouseholds.campaign.gov.uk
If you would like to be kept updated on any energy support please email me on [email protected] and i will update you.
