RISHI Sunak is to announce vital support for Brits amid the crippling energy price hike at a press conference later today.
The Chancellor will make the TV address after providers lift the price cap because of soaring whole sale prices.
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What time is Rishi Sunak’s announcement?
Energy regulator Ofgem is expected to reveal the new energy price cap for average dual-fuel bills at 11am today, February 3, 2022.
It is anticipated to rise by up to 50 per cent, meaning the average bill could hit almost £2,000 a year.
Mr Sunak’s speech will take place following the announcement, though the exact time has not yet been confirmed.
What will Rishi Sunak announce on energy prices?
He is expected to unveil financial support for struggling families bracing for a devastating squeeze come April.
This will likely be in the form of state-backed loans, giving all households a £200 discount off their energy bills.
This could increase to £500 for those struggling the most.
Mr Sunak may give hard-up households in Council Tax bands A to C rebates.
These would be funded by government grants under targeted measures for poorer Brits.
A spokesperson for the government said of the incoming support package: “We recognise people are facing pressures with the cost of living, which is why we are providing support worth around £12billion this financial year and next.
“We will provide an update in due course on further help for households across the UK to meet their energy costs in the face of rising global gas prices.”
How can I watch Rishi Sunak’s speech today?
The Sun will be streaming Mr Sunak’s speech later today.
Be sure to check the website to tune in.
