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| Version 54 | Version 55 |
|---|---|
| What is the energy price cap and how high could bills go? | What is the energy price cap and how high could bills go? |
| (32 minutes later) | |
| Extra support to limit the rise in energy bills has been announced by Prime Minister Liz Truss. | Extra support to limit the rise in energy bills has been announced by Prime Minister Liz Truss. |
| What is the energy plan? | What is the energy plan? |
| Under the measures: | Under the measures: |
| A typical household's energy bill will rise to £2,500 a year from 1 October (from £1,971) | A typical household's energy bill will rise to £2,500 a year from 1 October (from £1,971) |
| The "energy price guarantee" will last for two years | The "energy price guarantee" will last for two years |
| This is not a limit on how much you will pay - your bill depends on how much energy you actually use | This is not a limit on how much you will pay - your bill depends on how much energy you actually use |
| Before the announcement, typical household bills had been due to rise to £3,549 a year | Before the announcement, typical household bills had been due to rise to £3,549 a year |
| The plan applies to all households in England, Scotland and Wales. In Northern Ireland, the "same level of support" will be available | The plan applies to all households in England, Scotland and Wales. In Northern Ireland, the "same level of support" will be available |
| The one-off £400 fuel bill discount payments for households will go ahead | The one-off £400 fuel bill discount payments for households will go ahead |
| Anyone that doesn't use mains gas and electricity - such as those using heating oil - will also receive equivalent help | Anyone that doesn't use mains gas and electricity - such as those using heating oil - will also receive equivalent help |
| Businesses will be protected for six months initially | Businesses will be protected for six months initially |
| What is the energy cap and how does it work? | What is the energy cap and how does it work? |
| The energy price guarantee will replace the existing energy cap, which sets the the highest amount suppliers are allowed to charge households for every unit of energy they use. | The energy price guarantee will replace the existing energy cap, which sets the the highest amount suppliers are allowed to charge households for every unit of energy they use. |
| These energy units are the kilowatt hours (kWh) on your bills. | These energy units are the kilowatt hours (kWh) on your bills. |
| Under the new price guarantee, a typical household can now expect to pay about £2,500 a year. | Under the new price guarantee, a typical household can now expect to pay about £2,500 a year. |
| However, most households aren't actually typical. Many factors like the number of people in a house, the type of property and how much they use their heating all make a difference. | However, most households aren't actually typical. Many factors like the number of people in a house, the type of property and how much they use their heating all make a difference. |
| So, big energy users will pay more than £2,500, and people who use less energy will pay less. | So, big energy users will pay more than £2,500, and people who use less energy will pay less. |
| The cap also limits the standing charge - the fee customers pay for being connected to the energy grid. | The cap also limits the standing charge - the fee customers pay for being connected to the energy grid. |
| How much will the energy guarantee cost and who will pay for it? | How much will the energy guarantee cost and who will pay for it? |
| The government says it will set out the full cost of the scheme later in September, but estimates suggest it could be between £130bn-£150bn. | The government says it will set out the full cost of the scheme later in September, but estimates suggest it could be between £130bn-£150bn. |
| It has confirmed it will be paid for through increased borrowing. | It has confirmed it will be paid for through increased borrowing. |
| This is when the government raises money by selling financial products called bonds to international investors - like pension funds. These bonds have to be paid back, usually after several years, with interest. This means taxpayers ultimately pay more than the amount raised. | This is when the government raises money by selling financial products called bonds to international investors - like pension funds. These bonds have to be paid back, usually after several years, with interest. This means taxpayers ultimately pay more than the amount raised. |
| Where does the government borrow billions from? | Where does the government borrow billions from? |
| What help will businesses get with bills? | What help will businesses get with bills? |
| Businesses, charities, schools and other organisations will also receive help. | Businesses, charities, schools and other organisations will also receive help. |
| At present, these aren't covered by an energy price cap in the way that households are. | At present, these aren't covered by an energy price cap in the way that households are. |
| The government says they will now get an "equivalent guarantee" on energy prices for six months. | The government says they will now get an "equivalent guarantee" on energy prices for six months. |
| After six months, "vulnerable" businesses - including pubs - will receive further support. | After six months, "vulnerable" businesses - including pubs - will receive further support. |
| In three months' time a review will be carried out to identify where the extra support should be targeted. | In three months' time a review will be carried out to identify where the extra support should be targeted. |
| What additional help will I get to pay my energy bills? | What additional help will I get to pay my energy bills? |
| All households will be given a one-off £400 discount on their fuel bills from October, as previously announced. | All households will be given a one-off £400 discount on their fuel bills from October, as previously announced. |
| In addition, £650 will be paid to more than eight million low-income households who receive many benefits or tax credits. | In addition, £650 will be paid to more than eight million low-income households who receive many benefits or tax credits. |
| Further payments of £300 to pensioner households and £150 to disabled people will also go ahead. | Further payments of £300 to pensioner households and £150 to disabled people will also go ahead. |
| The government hasn't said whether these will be repeated next October. | The government hasn't said whether these will be repeated next October. |
| Fifty disability charities have called on the government to offer more support | Fifty disability charities have called on the government to offer more support |
| Vulnerable families can also claim help through the Household Support Fund, the Warm Home Discount scheme, and hardship funds run by energy companies. | Vulnerable families can also claim help through the Household Support Fund, the Warm Home Discount scheme, and hardship funds run by energy companies. |
| What cost-of-living payments will I get? | What cost-of-living payments will I get? |
| What can I do if I can't pay my energy bill? | What can I do if I can't pay my energy bill? |
| Ofgem: Getting help if you can't afford your energy bills | Ofgem: Getting help if you can't afford your energy bills |
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