MILLIONS of Britons could get discounts on their hundreds of pounds worth of energy bills under new plans to tackle the cost of living crisis.
Ministers are considering proposals for the Government to guarantee around £6 billion worth of loans to energy companies to cover rising wholesale prices.
The funds will be withdrawn over time, with costs spanning several years under Boris Johnson and Rishi Sunak’s “discount and payback” scheme.
It could mean £200 per UK household to help cope with the massive price increase when the energy price cap rises by 50% this spring.
The Sun understands that the plan has been floated with energy companies – with some in favor but some against.
Industry insiders say the plan will be successful in stemming massive inflation from cash consumption – and will help thousands of people cope with rising bills.
It will also likely include an extension of discounts on warm homes for the millions of low-income families who will be hit harder.
Mr Johnson and Mr Sunak are said to have signed a package of help that will be revealed in the next few days.
The price cap will go high from April – with new costs to be announced by Ofgem next Monday.
Treasury declined to comment on speculation last night.
Last week, Boris Johnson and Rishi Sunak vowed to go ahead with their plan to increase National Insurance – after the Prime Minister came under pressure to cancel the increase.
Mr Johnson is said to have been “shaken” over the decision as hardline Britons face a cost of living crisis.
But he has now doubled on the controversial risetariffs will increase by 1.25 percentage points in April, after some said he would do “whatever it takes to survive” amid the Partygate scene.
NI will increase add £130 a year to UK tax bill at £20,000 salaryand £255 for those earning £30,000.
Those over £50,000 will pay an extra £505 a year, those over £80,000 will have to fork out £880 and those earning over £100,000 will have to pay an extra £1,130.
Writing in The Sunday Times, the Prime Minister and his Prime Minister hailed the “progressive” policy.
And they warn that there is no “miracle money tree” to bail the country out of its Covid debts.
Energy bill will raise £600 a year to a record 22 million households in April.
New price limitis set to skyrocket from £1,277 to £1,900 for the average household, to be confirmed on 7 February.
When it was last reviewed last October, it protected 11 million households – but that number has now doubled to 22 million.
That’s because millions of households have abandoned cheap flat taxes or switched to more expensive deals with new suppliers after their previous company went bankrupt.
Now they have to face paying almost double for gas and electricity compared with last August, while wholesale gas prices skyrocketed to historic levels.
The average flat tax rate was £984 between October and December last year, according to Energyhelpline.com.
This means many households will have to make an extra £76 a month.
Experts predict energy bills will rise again in October to more than £2,000 a year.
https://www.thesun.co.uk/money/17515854/brits-could-get-rebate-on-energy-bills/ Britons could get a £200 rebate on energy bills under new plans to tackle the cost of living crisis