Liz Truss Announces Price Cap on Energy Bills as Part of Stimulus Package

The new British Prime Minister Liz Truss announced her first relief package to help her people with soaring energy bills by implementing a price cap on the bill.

Truss said that a typical household will pay no more than £2,500 per year for each of the next two years,” which will give the average household a £1,000 saving per year.

“New energy price guarantee will give people certainty on energy bills,” she said.

Prior to the announcement, British energy bills were set to reach £3,549 per year from October 1, a leap from £1,971, and were estimated to hit £4,649.72 in the first quarter of 2023 and then £5,341.08 in the second quarter.