Spring Budget 23: Energy support extension an 'easy win' for Hunt

Cap to remain at £2,500

Chancellor Jeremy Hunt revealed the Energy Price Guarantee scheme will remain in place for an additional three months in his Spring Budget.

This move means the energy cap will stay at the current level of £2,500 until the end of June rather than rise to £3,000 from April, as previously expected. The Treasury said a typical household will save, on average, £160 in total as a result. The EPG was put in place in October 2022 to cut the ‘typical family' energy bill by more than £1,300. Hunt said energy bills were set to fall from July onwards and the temporary extension to the support scheme "will bridge the gap and ease the pressure on families, while also helping lower inflation too". Had the government not stepped in...