No average household in Britain will pay more than £2.500 (around €2.900) a year for electricity and gas consumption over the next two years, as the UK state will cover the difference in consumption price resulting from the increase of the wholesale price of energy, the new British Prime Minister Liz Truss announced a while ago, among other measures, in her speech to the House of Commons.
As part of this new package of measures announced by the Truss, the UK government is essentially freezing, as expected, energy price rises for the benefit of consumers in an effort to effectively tackle the rapid rise in the cost of living and the expected huge rise in prices energy.
It is worth noting that as of October 1, the prices of electricity and natural gas were scheduled to increase by 80%, while an additional increase was expected in the coming spring.
The total cost of the package of measures is expected to exceed 150 billion pounds (about 173 billion euros), an amount that the British government will secure by borrowing. As many analysts note, "this is the biggest state intervention in the history of Britain".
Source: RES-EAP