Budget 2023: Energy bill support to be extended, saving typical household around £160

The government has announced it will keep its cap on energy prices for a further three months.

The Energy Price Guarantee had been expected to rise to £3,000 in April, meaning another hike in household bills.

But ahead of Jeremy Hunt's Budget announcement on Wednesday (15 March), the Treasury confirmed the figure will now remain at £2,500 until June, saving the typical home £160 on energy bills.

"With energy bills set to fall from July, extending the Energy Price Guarantee will bridge the gap, easing the pressure on families," the chancellor tweeted.

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