Skip to content
City of London

UK Scraps Energy Bill Price Freeze After This Winter

  • Treasury will review new plans to target households in need
  • UK was worried about its exposure to skyrocketing gas costs
Bloomberg business news
UK's Hunt Reverses Almost All Mini-Budget Tax Cuts
Updated on

The UK’s program to freeze energy prices to help households shoulder the burden of rising costs will be scrapped at the end of this winter, as the government seeks to salvage its credibility with investors.

It would be “irresponsible” for the government to continue exposing the public finances to unlimited volatility in international gas prices, Chancellor Jeremy Hunt said in a statement to broadcasters on Monday. The Treasury will investigate a replacement program that better targets lower-income households.