UK Chancellor Reeves Pledges Energy Bill Support Based on Household Income

Reeves told the BBC that support would be based on household income.

She criticized the previous government's universal approach.

BBC

She said it was too early to say who would get help.

Wholesale oil and gas prices have soared due to Middle East disruptions.

Energy bills are set to fall between April and June under Ofgem's price cap.

BBC

A big jump is expected once the cap expires in autumn.

Calls are rising to adopt a social tariff targeted at the most in-need.

The Resolution Foundation warned universal support could be costly and ineffective.

The social tariff would grant a discount of about 21% on energy prices.

Reeves refused to promise immediate support for drivers.

The government is preparing for all eventualities.

Global Banking & Finance Review®

Priority is on targeted measures that protect public finances.