Ahead of the Chancellor’s Spring Budget later today, the Government has confirmed the Energy Price Guarantee (EPG) will be kept at £2,500 for an additional three months from April to June, saving a typical household £160.
Government support has already cut the typical family energy bill by over £1,300 since October, stopping the average household energy bill from hitting £4,279 a year this winter.
The Chancellor’s three-month extension means households won’t feel the full force of Ofgem’s energy price cap between April and June – which stands at £3,280 – helping to bridge consumers into the summer.
More to come …