Good morning.
Energy bills will be frozen for UK households under a new plan that could cost £130bn.
Liz Truss has finalised plans for a new system that will prevent the sharp rise in the energy price cap from October. The policy could cost as much as £130bn over the next 18 months, Bloomberg reports.
The price cap was due to jump 80pc to £3,548 a year from October. But the new measure will see the price cap effectively scrapped.
Instead, the Government will set a new price paid by households. That’s likely to be at or below the current price cap of £1,971.
5 things to start your day
1) JP Morgan plans to move work from Germany to London as blackout fears grow The Wall Street bank is preparing a raft of emergency measures so that it can continue trading if there are power outages this winter.
2) TalkTalk weighed down by debt as Sir Charles Dunstone seeks sale The budget broadband provider has been warned by its auditor that presenting its accounts on a going concern basis is increasingly risky.
