RISHI Sunak held a conference today to address the British public regarding the huge energy price hike announced on February 3.
Ofgem announced that the energy price cap will soar by almost £700 on February 3, but what did the chancellor have to say?
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What did Rishi Sunak say about the energy price hike and what will the Government do?
From the outset, Rishi wanted to make very clear that the Government had no control over rising energy prices.
The Chancellor spoke about dwindling supplies when a nuclear power plant went offline in Europe, and China’s increased output of more goods.
While he was keen to stress that he could not do anything to stop external factors, he was quick to offer his support.
As such, the Chancellor announced that there will be an energy bills rebate of £350.
The rebate will come in the form of £200 discount for all electricity customers, which will be paid in £40 a year instalments for the next five years, starting in April.
The remaining £150 will be a council tax rebate, for all households in bands A to D.
Rishi said: “Higher energy prices are something we are going to have to adjust to. Energy prices might go up in October.
“The rebate that I’ve announced today, the £200 off all energy bills, will kick in in October
“But over time we will have to see what happens this is something we will have to get used to but the interventions today will help that adjustment happen in better time.
“[This] is the quickest way to get money to the families that need it.
“Our plan is right, it is fair and I hope it will help ease the anxiety that millions of people feel about rising energy costs by sharing the burden between us all.”
