Truss Could Freeze Energy Bills if Elected British Prime Minister - Reports

MOSCOW (Sputnik) - UK Foreign Secretary Liz Truss, who is widely expected to take over from Boris Johnson as the next British prime minister, could freeze energy bills for UK households this winter, The Telegraph reports citing sources.

Truss has retained a large lead over former finance minister Rishi Sunak in the polls of Conservative Party members. The voting closed on Friday and the final winner will be announced at 12:30 p.m. BST (11:30 GMT) on Monday.

The Telegraph reported on Sunday that the Scottish Power energy company had proposed a £100 billion ($114.8 billion) plan for a two-year energy bill freeze in the UK, an idea that is supported by other British energy companies.

An energy company source told the newspaper that the idea has been "extremely actively explored" by Truss campaign figures. Another industry source confirmed the proposal was being scrutinized by the Truss campaign.

"I’m confident there will be a mechanism introduced that freezes bills," a Truss team insider told The Telegraph. Another insider told the newspaper that the idea had been discussed "quite a lot in the last fortnight," with the details of the potential plan, such as who would benefit, how long for, and at what price level, remaining a point of debate.

On Saturday, Truss said in an article for The Telegraph that she planned to address the energy bill problem within the first week of her new administration, if elected. "Sticking plasters and kicking the can down the road will not do. I am ready to take the tough decisions to rebuild our economy," Truss wrote.

A source close to the Foreign Secretary told the newspaper on Saturday that Truss would embark on a "two-track approach," which would include immediate financial support for British households and ways to resolve the energy market problems exposed by the impacts of the coronavirus pandemic and the Ukraine crisis.

Last week, UK energy regulator Ofgem announced an 80% increase in the energy price cap to 3,549 pounds ($4,194) per year starting October 1 due to rising global energy prices. Since its last revision in April, the energy price cap had stood at 1,971 pounds. Ofgem CEO Jonathan Brearley has warned that energy prices are likely to continue to rise, and has called on the country's future prime minister to take new measures to tackle the problem.