Prime Minister Liz Truss has set out her plans to tackle the energy crisis amid soaring bills across the UK.

Ms Truss announced that she will be freezing bills at the £2,500 mark, as the Government plans to ease the impact of the rising cost of living.

This new figure is around £500 higher than current levels, however the price cap is set to rise by 80% on October 1.

Once that rise happens, the £2,500 figure will be around £1,000 below the Ofgem price cap.

The Northern Echo: PAPA (Image: PA)

The Prime Minister said the plan will be delivered by securing the wholesale price for energy, while putting long term measures in place to keep the prices low in the future.

On the plan, Ms Truss said: “Earlier this week I promised I would deal with the soaring energy prices, and today I am delivering on that promise.

“We are introducing a new energy price guarantee.

“It will give people more certainty. This guarantee means that from October 1 a typical household will pay no more than £2,5000 per year for the next two years.

“This will save a typical household around £1,000 per year and it will be in addition to £400 worth of support from the Government.”

Wales’ First Minister Mark Drakeford has said news about the Queen’s deteriorating health will have prompted “an afternoon of sober reflection and anxiety for households across Wales”.

At a press conference held in Cardiff in response to the Prime Minister’s energy plan announcement, Mr Drakeford said: “I should begin by just reflecting on the news published through Buckingham Palace earlier today – an afternoon of sober reflection and anxiety for households across Wales.

“Of course, we will be wishing all sympathy and understanding with members of the royal family who are gathering at Balmoral.”