U.K. To Cap Energy Bills At £2,500 For A Typical Household

 

Daily Mail: Energy bills will be frozen at £2,500 for TWO YEARS: Liz Truss unveils 'extraordinary' £150bn plan to counter Putin and subsidise household costs while businesses get 'equivalent' support for six months - as she backs fracking and using North Sea reserves 

* Liz Truss is set to ease the pain of energy bills for households by freezing them at a typical level of £2,500 

* New PM insisted that failing to take action on the scale of the Covid response would damage the economy 

* But Ms Truss also warned that major changes are needed to shore up Britain's long-term energy supplies 

Liz Truss rolled the dice on her premiership today unveiling a £150billion plan to freeze energy bills for two years and counter Vladimir Putin's blackmail. 

Admitting her action is 'extraordinary', the PM told MPs the government is committed to keeping costs for households at £2,500 a year until October 2024 - less than half the level many feared they would hit. 

Including a £400 handout most people should see little change from existing bills this year.  

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WNU Editor: This is not going to solve the UK's energy crisis. And who wants to invest or be in the energy business if you are forced to sell your product below your costs? My guess is that the UK government is going to bail out the utilities to keep this "House of Cards" from collapsing. And as for the future in UK .... expect more inflation and the energy crisis continuing. 

U.K. To Cap Energy Bills At £2,500 For A Typical Household  

Energy bills to be capped at £2,500 for typical household -- BBC  

U.K. to cap household energy bills over the next 2 years -- AP  

New British PM Liz Truss announces a cap on energy bills to combat cost-of-living crisis -- CNBC  

UK to cap average household energy costs at £2,500, PM Liz Truss says -- France 24  

The UK is preparing a huge energy bailout that could cost $172 billion -- CNN