Energy bills are set to rise as the energy price guarantee scheme threshold climbs. Chancellor Jeremy Hunt announced that the energy price guarantee scheme will increase from £2,500 for the average household to £3,000 for 12 months from April as government support is reduced.
The Government will continue the Energy Price Guarantee for a further 12 months at a higher level of £3,000 per year for the average household, the Chancellor has said. Jeremy Hunt told the Commons: “One of the biggest worries about families is energy bills, and I pay credit to my predecessor, the right honourable member for Spelthorne, and the former Prime Minister, the right honourable member for South West Norfolk, for their leadership in this area.
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“This winter, we will stick with the plan to spend £55 billion to help households and businesses with their energy bills – one of the largest support plans in Europe. From April, we will continue the Energy Price Guarantee for a further 12 months at a higher level of £3000 per year for the average household.
“With prices forecast to remain elevated through next year, this will still mean an average of £500 support for every household.”
On Government help with energy bills for the most vulnerable, the Chancellor told MPs: “At the same time, for the most vulnerable we will introduce additional cost-of-living payments next year, of £900 to households on means-tested benefits; £300 to pensioner households; and £150 for individuals on disability benefit.
“We will also provide an additional £1 billion of funding to enable a further 12-month extension to the Household Support Fund, helping local authorities to assist those who might otherwise fall through the cracks.
“And for those households who use alternative fuels such as heating oil and LPG to heat their homes, I am today doubling the amount of support from £100 to £200, which will be delivered as soon as possible this winter.
“Before the end of this year, we will also bring forward a new targeted approach to support businesses from next April.”
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