UK government to cap domestic energy prices, Liz Truss announces

British Prime Minister Liz Truss said Thursday that her government will cap domestic energy prices for homes and businesses to ease a cost-of-living crisis that has left people and businesses across the UK facing a bleak winter.

Truss told lawmakers in Parliament that the two-year energy price guarantee means average household bills will be no more than 2,500 pounds ( 2,872) a year for heating and electricity.

Bills had been due to rise to 3,500 pounds ( 4,000) pounds a year from October, triple the cost of a year ago. Bills are skyrocketing because of Russia’s invasion of Ukraine and the economic aftershocks of COVID-19 and Brexit.