Liz Truss 'considering' plans to freeze energy bills until 2024

Liz Truss is reported to be considering plans to freeze energy bills until the next general election, expected in 2024.

It comes after Truss was announced as the winner of the Conservative leadership contest.

On Tuesday, she will travel to Balmoral where she will be appointed as prime minister by the Queen.

According to the Telegraph newspaper, after taking office, Truss could seek to freeze energy bills for all households until 2024.

Under the plans, bills would be subsidised and the current price cap of £1,971 for a typical household would be maintained for two years.

A similar scheme to limit the energy price increases faced by small and medium-sized businesses is also being considered, it has been reported.

Truss’ political opponents had called for the planned energy price cap rise to be stopped, with annual average bills expected to increase to more than £3,500.

UK energy bills are also being forecast to reach as high as £4,266 a year from January.

In her Conservative leadership victory speech in London on Monday, Truss pledged that she would deliver a “bold plan” to cut taxes and grow the UK economy.

“During this leadership campaign, I campaigned as a Conservative and I will govern as a Conservative,” she said.

“We need to show that we will deliver over the next two years. I will deliver a bold plan to cut taxes and grow our economy.

“I will deliver on the energy crisis, dealing with people’s energy bills but also dealing with the long-term issues we have on energy supply.”