Member

I know that families and businesses across the country will see these global events and be concerned about the impact on their energy bills and the cost of living. It is important to say that the energy price cap will provide protection for households until the start of July, regardless of developments in the Middle East. Last week, Ofgem confirmed that as a result of the Chancellor’s decisions in the Budget, the price cap will fall by 7%, or £117 annually, for the period covering April to June. The price cap for that period is fixed and will not change. That is a direct result of decisions in the Budget by my right honourable friend the Chancellor to raise taxes on the wealthiest, and to cut bills for families across Britain. In addition, around 6 million families are benefiting from our expansion of the £150 warm home discount, and we are delivering the biggest investment in home upgrades in British history through our warm homes plan, to cut bills and shield families from these kinds of fossil fuel shocks.