Liz Truss set to unveil plans to cut energy bills for millions
The system to support business could be more complex than that for households and is likely to be reviewed more often. According to reports, it could see the government force energy firms to offer specific reductions on the unit price of the energy used by firms.
"Our energy bills have more than doubled in many cases and all of our ingredients have gone up as well," he told the BBC's Today programme. "We are definitely thinking about shutting our doors, it's very stressful." If businesses are included, that could see the overall cost of the government support package rise to well above £100bn.
Investment bank Goldman Sachs said that a cap on household energy bills could see inflation peak at 10.8% in October, rather than the 14.8% forecast before. It also sees prices falling more quickly as well, with inflation slowing to 2.4% by December 2023.However, both cautioned that there was uncertainty around what exactly the plan will look like and what would happen once any cap is lifted.
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