After winning the Tory leadership election to become the next prime minister, Liz Truss has pledged to take measures to address the rising cost of electricity.
The foreign secretary won a party member poll by a narrower margin than anticipated, defeating rival Rishi Sunak with 57% of the votes to his 43%.
She was formally nominated by the Queen on Monday, and she will replace Boris Johnson on Tuesday.
The 47-year-old will be the third woman to serve as prime minister of the UK.
She pledged to fulfill the party’s 2019 election promises and defeat Labour in the 2024 general election during her victory speech.
She paid tribute to her “friend” Mr. Johnson and said that because of his track record in office, he will be “admired from Kyiv to Carlisle.”
Her team has reportedly been working on a support package for several weeks, with a Thursday announcement planned.
Industry insiders predict that the next administration will support freezing bills, which would cost billions.
However, according to sources, the government may be able to finance loans to businesses that customers repay over time in the form of higher fixed pricing, negating the need for upfront investment.
