MILLIONS of Brits could be saved from a £500 bill hike as Jeremy Hunt is poised to extend the Energy Price Guarantee. The Chancellor is looking to stop gas and electricity bills rising from £2,500 …
A Whitehall source told The Sun: "There is a very keen desire within the Energy Department to see energy bill support continue at the current rate.The source added that Treasury officials are receptive to the idea.told the BBC this morning he thinks there's a "better than 50% chance" of bills not rising."I was saying in the office I think it's a better than 50% chance.
The last payment is being made this month, meaning bills will rise by £67 a month at the same time as the energy price guarantee goes up.Earlier this week, Ofgem revealed that the energy price cap will fall to £3,280 a year from £4,279 a year in April due to a drop in wholesale costs. However, it was temporarily replaced by the energy price guarantee in October 2022, as the government wanted to protect households from catastrophic rises in bills.Wholesale costs are still falling and it's been predicted that the cap will fall to £2,100 in July.
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