On Monday, new Chancellor Jeremy Hunt said he and the Prime Minister had “reluctantly” agreed it would not be responsible to keep the £2,500 energy price guarantee beyond April 2023.
The UK Government support replaced the Ofgem price cap and was originally planned to be in place for two years, until 2024.The announcement will come as a blow to millions of households despite the Chancellor’s reassurance that a Treasury-led review will look at how the UK Government can support energy bills beyond April next year.
He said the review’s objective would be to design a new approach that will cost the taxpayer “significantly less” than planned while providing help for those in need.However, this is a statement from a new Chancellor who, on four separate occasions following his announcements in Parliament, refused to answer whether or not the State Pension Triple Lock guarantee would be observed for the annual uprating in April.Labour’s Jeremy Corbyn and John McDonnell pressed Mr Hunt for reassurance that pensioners would not miss out as inflation continues to soar.The latest Consumer Price Index (CPI) will be released on Wednesday, October 19.The Triple Lock guarantees that State Pensions grow in line with whichever is highest out of earnings, inflation or 2.5%.
It was introduced to help give pensioners a decent minimum level of income which would keep pace with growth in workers' earnings.While the uprating to State Pension payments and other benefits remains uncertain, older people may not be aware of all the cash help available to them this winter - and most of it will be paid automatically.In total, older people could be due up to £974 plus the £150 Warm Home Discount, although this is paid directly to energy suppliers and
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