Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when does his Department will conclude its review into energy bills support; and whether third parties and agencies will be consulted as a part of that review.
The Energy Price Guarantee is a scheme that caps the unit price households pay for electricity and gas. This means that a typical household in Great Britain pays an average £2500 a year on their energy bill over this winter. This is expected to save consumers who use both gas and electricity around £700 this winter.
Through the Energy Bill Relief Scheme (EBRS), the government will provide a discount on wholesale gas and electricity prices for all non-domestic consumers (including UK businesses, the voluntary and public sectors).
The Chancellor has announced a Treasury-led review of energy support to take effect from April 2023. The objective of the review, which is not a formal Government consultation, is to design a new approach that will cost the taxpayer significantly less whilst ensuring enough support for those in need.
The Chancellor will announce the support which will be in effect from April 2023 in due course.