The Treasury extends the government’s energy price guarantee

The energy price guarantee will be extended at its current level for a further three months from April to June, capping average annual household bills at £2,500, the Treasury has confirmed.

Extending the Energy Price Guarantee (EPG) to its current level for three months will save a typical household about £160, the Government has said.

Prime Minister Rishi Sunak said: “We know people are concerned their bills will increase in April. To give people some level of reassurance, we are keeping the energy price guarantee at its current level until the summer when gas prices are expected to fall.

The three-month extension of the Energy Price Guarantee (EPG) at its current level of £2,500 will save a typical household around £160, the Government has said

“Keeping energy costs low is part of our plan to help hard-working families with the cost of living and cut inflation in half this year.”

The EPG was expected to rise to £3,000 in April but falling energy prices mean the current level can be extended to close the gap until costs fall below the cap.

Chancellor Jeremy Hunt, who included the measure in his budget presented today, said: “High energy bills are one of the top concerns for families, which is why we are keeping the Energy Price Guarantee at its current level.

“With energy bills set to fall from July, this temporary change will close the gap and ease pressure on families while helping to lower inflation.”

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