Chancellor Jeremy Hunt has this morning announced the extension of support for household energy bills. 

The announcement comes ahead of the launch of Mr Hunt's 2023 Spring Budget later today. 

The Chancellor confirmed that the energy price guarantee, which caps average household bills at £2,500, will be extended at its current level from April to June.

It had been due to rise to £3,000. 

Prime Minister, Rishi Sunak, said: “We know people are worried about their bills rising in April, so, to give people some peace of mind, we’re keeping the energy price guarantee at its current level until the summer, when gas prices are expected to fall.

“Continuing to hold down energy bills is part of our plan to help hardworking families with the cost of living and halve inflation this year.”

Falling global energy prices mean that the current level will be extended to “bridge the gap” until costs are expected to fall below the cap.

Mr Hunt said: “High energy bills are one of the biggest worries for families, which is why we’re maintaining the energy price guarantee at its current level.

“With energy bills set to fall from July onwards, this temporary change will bridge the gap and ease the pressure on families, while also helping to lower inflation too.”

The cost of delaying the planned 20% increase will amount to around £3 billion.

The extension in support for household energy bills along with a major expansion of free childcare are just two measures being introduced as part of Mr Hunt's “Budget for growth” which he said is aimed at easing the cost of living.