know that households will be protected by an energy price guarantee, the average household fuel bill will be capped at £2500 per yearfor fuel bill will be capped at £2500 per year for the next two years, a lot better than the £a000 that estimates suggested it could get up to but it is still almost double what it was just a years ago. businesses do not have that guarantee, the government says it will provide support for businesses for six months but we do not have the detail on what that might involve. what might we find out in the budget? the prime minister has already signalled that she might reverse the rise in national insurance as well as scrapping temporarily green levies on household fuel bills to try and help with those rising cost of living pressures. joining me here, excuse me, i am choking on my coffee! join me, i am choking on my coffee! join me here later when we will be
we ve known for months it was coming but now, it s been confirmed the average household fuel bill will be £3,519 from october. the cap is set by the energy regulator 0fgem and is the maximum amount companies can charge customers for each unit of energy. 0fgem has acknowledged the situation as deeply worrying for many people. i accept this is devastating news for many families out there. so what we re also saying today is, we have ten days now until we will have a new administration, a new prime minister and a new ministerial team. now, we think that the government with our support, with the support of the industry, with the support of ngos needs to act urgently and decisively to address the situation that s before us. because the difficult news i have to give is when i look at what s happening later on this year and potentially into next year, there is still significant price pressure.