Energy Secretary Miatta Fahnbulleh has stated that the government will explore "fundamental reforms" to help families struggling with high energy bills. These reforms include investment in renewable energy, which Fahnbulleh described as "absolutely critical" to breaking the link between high gas costs and bills.
Fahnbulleh acknowledged that families are concerned about energy costs this winter, which are being driven up by the Iran war. The government has already cut VAT on electricity bills from October and removed £150 in costs from bills earlier this year, with a commitment to continue looking for ways to protect families.
Separately, Ofgem, the energy regulator, announced that the energy price cap will increase by 4% from October. This rise means millions of households will face the highest energy charges in three years this winter. The new rate for approximately 22 million households is equivalent to £1,723 a year for a typical household's gas and electricity use, up from £1,663 for the July to September period.
Meanwhile, Prime Minister Andy Burnham is set to announce a plan to tackle youth unemployment. He will welcome Sainsbury's initiative to offer 10,000 work experience placements in deprived areas, focusing on young people aged 14 and over who are not in education, employment, or training (Neets). These placements, running for a year from October, aim to help young people build confidence and gain experience.