Liz Truss will unveil her strategy to assist consumers and companies dealing with rising energy bills on Thursday.
Downing Street stated that the measure will be “bold” and “decisive,” assisting consumers throughout the UK who are experiencing skyrocketing rates while also enhancing domestic energy supplies.
Ms Truss is set to present her recommendations to Parliament, kicking up a wider debate on energy pricing in the Commons.
“I know families and companies throughout the country are anxious about how they will make ends meet this autumn and winter,” the incoming PM said ahead of the announcement.
Ms Truss’s proposal to address the cost of living will be the first significant policy move of her leadership, following months of criticism over a lack of further assistance to handle the consequences of energy-led inflation, which is at a 40-year high.
She is set to freeze household bills at around £2,500, but she has rejected the notion of imposing a windfall tax on the earnings of oil and gas companies to pay the package, which is estimated to cost up to £150 billion.
Bills would be reduced to about £2,000 if the £400 subsidy for each home and other bill changes are taken into account.
