THREE new measures for struggling families and businesses have today been revealed as households across Britain brace for a tough winter amid the cost of living crisis.
Under the new announcements made today, more than one million families are in line for a £100 boost to help with crippling heating costs.
It comes just two weeks after Liz Truss announced her energy support package – capping household energy bills at £2,500 for two years.
And ministers announced today that households that do not benefit directly from the support package will receive the cash boost.
Homes that use heating oil rather than gas will receive £100 on top of a £400 bills discount already announced.
More than 1.6million homes are thought to currently rely on heating oil.
And in a further move to support families, thousands of households – including renters – that pay for their energy through commercial contracts will receive a £400 energy bill discount from October.
It comes as…
Business Secretary Jacob Rees-Mogg also revealed help for businesses – announcing the government will freeze wholesale non-domestic energy costs at £211 per MWh for electricity and £75 per MWh for gas.
The cap will come into place for an initial six months, beginning October 1 this year and ending on 31 March 2023.
Meanwhile, in two days, Chancellor Kwasi Kwarteng will announce a mini-budget that is hoped to provide crucial relief for hard-up Brits facing the massive bills.
He is expected to slash the National Insurance rate and could even cut Stamp Duty to help out first-time buyers.
Announcing today’s three new measures, Rees-Mogg said the new £100 payment would help households into the winter.
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The Business Department said: “The Government will also provide an additional payment of £100 to households across the UK who are not able to receive support for their heating costs through the Energy Price Guarantee.
“This might be because they live in an area of the UK that is not served by the gas grid and is to compensate for the rising costs of alternative fuels such as heating oil.”
Earlier this month, the PM revealed measures that will mean the average household will pay no more than £2,500 from October 1 under a new price guarantee.
However, the cap is just on what firms can charge customers.
Bills could still be higher, based on energy usage.
The bailout – which is being estimated at as much as £150billion – will help hard-up Brits as the cap was set to spiral from the current £1,971 to £3,549 next month.
Alongside households, businesses will also receive a new support package to help combat rocketing bills.
Firms are not supported by the price cap and so are exposed to soaring gas costs leaving many on the brink of bankruptcy.
But throwing them a lifeline, Business Secretary Jacob Rees-Mogg today revealed a cap in the wholesale price to stop firms paying unaffordable rates.
The government will freeze energy costs for businesses at £211 per MWh for electricity and £75 per MWh for gas.
It claims this will more than halve the wholesale prices set to be unleashed this winter.
The PM said: “I understand the huge pressure businesses, charities and public sector organisations are facing with their energy bills, which is why we are taking immediate action to support them over the winter and protect jobs and livelihoods.”
Earlier this month she announced a similar scheme for households so the typical family will pay no more than £2,500 a year on bills.