'Unclear who will shoulder costs': Industry reacts to Truss energy plan

Typical bill capped at £2,500 a year

clock • 3 min read

Industry commentators have reacted to newly elected Liz Truss’ energy plan, which puts a cap on energy bills for households for the next two years at £2,500. The plan is expected to cost the UK economy up to £150bn.

Businesses will also have bills capped for six months, which equity research analyst at Quilter Cheviot, Tom Gilbey, said was welcome as thousands of companies face huge rises in bills from next month. There has been no additional support announced for those most vulnerable to rising prices. This is Truss' first major policy announcement since winning the Tory leadership race on Monday (5 September) to become the new prime minister. Gilbey said that while energy companies stood to benefit from the package, and were able to lock in higher profits, it was less clear who would shoulde...

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