Grant Shapps has indicated the Government would not bring back the energy price guarantee to shield Britons from another surge in gas and electricity prices this winter
Asked if the Government would reintroduce the guarantee, Mr Shapps said: “We don’t want to be in a position as a government of having to constantly pay energy bills, because the answer — we’re having to tax people in order to pay it back to people — [means] that money doesn’t come from nowhere.Currently, a typical household with average energy use pays £2,074 a year under the Ofgem price cap, which will run until September 3.
Elsewhere in the interview, Mr Shapps defended the Government’s decision to issue 100 oil and gas licences for the North Sea despite its ambitions to hit net-zero carbon emissions by 2050. The Energy Secretary said a reduction in taxes was coming “soon” but warned it would not be “instantaneous and overnight”.is not expected to fall close to its 2 per cent target until the second quarter of 2025 and Chancellor Jeremy Hunt cautioned the UK was stuck in a “low growth trap.
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