The government of Britain said on Wednesday that it would extend its support for household energy bills by three months, to the end of June. By maintaining a lid on household expenses, this action should help to relieve the country’s struggle with rising costs of living.
The information is released hours before government budget announcement by finance minister Jeremy Hunt.
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Britain announced that it would continue to enforce a pricing ceiling, keeping average yearly costs at 2,500 pounds ($3,039) for an additional three months.
Under previous plans, government subsidies had been scheduled to be scaled back from the end of March meaning that bills would have risen to 3,000 pounds.
“High energy bills are one of the biggest worries for families, which is why weโre maintaining the Energy Price Guarantee at its current level,” Hunt said in a statement.
Wholesale prices are expected to fall over the period meaning the help will no longer be necessary beyond after that period, the statement added.
Story adapted from Reuters
