HOUSEHOLDS have been promised more help with energy bills in today’s Queen’s Speech.
At the opening of parliament today, the Government laid out that the cost of living crisis was a priority.
But households shouldn’t expect more free cash any time soon.
The speech, read by Prince Charles today, did not lay out any details about immediate cost of living help from the Government.
Instead, he said an Energy Security Bill would mean the energy price cap would continue beyond 2023.
It is the first time the Queen has not read the speech in 59 years.
Charles, 73, was granted powers to deliver the televised speech on the Government’s legislative programme alongside Prince William in a historic change to protocol.
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The energy price cap was originally brought in as a temporary measure to help improve competition in the energy market.
The Government also said it would bring down the cost of heat pumps in a bid to encourage more households to switch to green energy.
From this month, families can apply for grants of up to £6,000 to help cover the costs of heat pump.
But the grants don’t cover the full cost of the heat pump, which is often as much as £10,000 – compared to a typical cost of a new boiler of £1,500.
In the Queen’s Speech, the Government said: “We will be ready to take further steps, if needed, to support households.”
Under the Energy Security Bill, announced today, the energy price cap will remain in place beyond its planned end of 2023.
It said the move would protect 22 million households who are current on a default or variable energy tariff.
The Government also said it would support the industry to increase investment in heat pumps, and appoint Ofgem as the regulator for heat networks to ensure “consumers get a fair price and reliable supply of heat”.
Responding to the announcement, Jonathan Brearley, chief executive of energy regulator Ofgem, said: “The Energy Bill provides a clear direction of travel to boost our clean home-grown energy, reduce reliance on global fossil fuels and drive us towards a secure and carbon neutral future.”
MORE HELP IS NEEDED
But experts have warned the Government’s help does not go far enough.
Richard Eagling, senior personal finance expert at NerdWallet, said: “No doubt many people will have been hoping for more mention of short-term financial measures to support those struggling with the cost-of-living crisis.
“Indeed, almost a quarter of UK adults are finding it more difficult to keep up with monthly bills compared to a year ago and the situation is only likely to get worse.
“Now, it’s vital that the government outlines a plan regarding its long and short-term strategy to fuel economic growth and help households cope.”
Last month, millions of households started to receive a £150 council tax rebate to help cover the cost of rising energy bills.
