Today, Liz Truss will announce the Government’s strategy to shield households from sharply rising energy prices, marking her first significant policy intervention in her new role as Prime Minister.
In a cost-of-living package that is anticipated to cost about £150 billion, bills are expected to be frozen at about £2,000.
In an effort to increase the UK’s energy supply, the Prime Minister is also anticipated to announce that the ban on fracking will be lifted. Here’s how to watch the speech live.
How can I watch Liz Truss’s speech?
On Thursday, September 8, Ms. Truss is anticipated to make her announcement starting around 11.15am, though this time may be slightly delayed by any pressing Commons questions.
The announcement will be broadcast live on this page, as well as on BBC News and Sky News, which are both available online through the BBC iPlayer here and the live YouTube stream for Sky News.
What will Liz Truss announce today?
“I will make sure that in our energy plan we will help to support businesses and people with the immediate price crisis, as well as making sure there are long-term supplies available,” Ms. Truss said in a statement to the Commons on Wednesday.
In an effort to prevent families and businesses from going bankrupt if energy prices continue to rise as predicted, the prime minister is anticipated to announce that energy bills will be frozen at about £2,500.
The annual energy price cap for residents of England, Scotland, and Wales is currently set at £1,971; however, this amount is expected to increase to £3,549 in October and to rise even higher in January.
The cost of Ms. Truss’s proposals, which are projected to be around £150 billion, will be covered by increased borrowing as a result of the Prime Minister’s rejection of calls for an oil and gas producers’ windfall tax.
According to Downing Street, the PM will lift the ban on fracking, which involves using high-pressure water to fracture rocks in order to release shale gas.
Lifting the ban is likely to spark debate because fracking opponents have long warned that the practice can lead to earthquakes, water contamination, noise pollution, and traffic pollution.
Given the time it will take to begin production and the amount of gas it could produce in relation to the severity of the global supply issues caused by Vladimir Putin’s invasion of the Ukraine and restrictions on deliveries to Europe, the move is also unlikely to result in lower prices.
Even if we lifted the fracking moratorium tomorrow, it would take up to a decade to extract sufficient volumes, and it would be expensive for communities and our priceless countryside, as the now-Chancellor Kwasi Kwarteng stated in the Mail on Sunday in March.
“If we want energy sufficiency, we have to look at every source, including obviously new nuclear, more renewables, but we also want to look at technologies like fracking,” said Levelling Up Secretary Simon Clarke on Monday morning.
Additional reporting from Press Association