LONDON – The UK decided to keep its energy price guarantee at current levels for a further three months, easing pressure on households as the government works to ensure bills reflect falling natural gas costs.That means dual-fuel tariffs will stay stable up until July, though customers will still be paying almost double what they were charged two years ago.
“With energy bills set to fall from July onwards, this temporary change will bridge the gap and ease the pressure on families, while also helping to lower inflation too,” said Chancellor Jeremy Hunt.This is because energy firms pay for supply months in advance and charge customers according to costs at the time of purchase.
The energy price guarantee means that the government limits the maximum price per unit of power and gas, paying any cost of a bill above that level.Charities such as Citizens Advice and National Energy Action have repeatedly called for long-term support for households. NEA expects an estimated 7.5 million people to be in fuel poverty even with the EPG remaining at current levels.