Energy bill lifeline for millions as Treasury poised to scrap £3,000 rise in weeks

This comes after energy regulator Ofgem reduced its price cap to £3,280 from April 1, meaning the Government will pay on average £280 a year for each typical household under the guarantee if the cap increases.

Previously, Ofgem had set the price cap on April energy bills to £4,279, meaning that the Government will now be subsiding almost £1,000 less per household compared to previous estimates.

Meanwhile, experts at Cornwall Insight predicted that the Ofgem price cap, which limits the unit price energy suppliers can charge, will continue to reduce this year, with average bills of £2,153 a year from July and then increasing slightly to £2,161 from October this year.

Grant Shapps, the Secretary of State for the Department of Energy Security and Net Zero also said that he was “sympathetic” to calls for more support for struggling families.

READ MORE: Shapps orders energy firms to hand Britons bills lifeline

Article source: https://www.express.co.uk/news/science/1741611/energy-bill-treasury-jeremy-hunt-scrap-april-increase