Pressure is mounting on the government to put forward detailed proposals to curb rocketing gas and electricity prices after energy regulator Ofgem announced the price cap for an average household will rise to £3,549 a year in October.
The figure is £800 more than the forecast figure that was provided to Rishi Sunak in May when he was chancellor.
The price cap sets a limit on the amount suppliers can charge for each unit of gas and electricity used. It also sets a maximum daily standing charge (what you pay for your home to be connected to the grid).
As calls for the government to act grow, Chancellor Nadhim Zahawi said on Friday morning that he is “working flat out” to develop more options to support people – but insisted it would be for the next prime minister to decide what support to deliver.
Boris Johnson has also stressed he will leave decisions on further support to his Downing Street successor – either Liz Truss or Mr Sunak – who will not take up the position…
