UK incoming Prime Minister (PM) Liz Truss’s spokesman said that she plans a £40 billion energy-aid package for businesses.
Citing sources, Bloomberg reported that Truss will discount firms' energy bills by fixing the wholesale price of gas and electricity.
Meanwhile, Reuters carried a story citing that household bills are due to jump by 80% in October but a source familiar with the situation said that Truss is looking at freezing bills this winter, in a plan that could cost more than the COVID-19 furlough scheme.
Market reaction
Amidst speculation over Truss’s energy relief plans, GBP/USD is keeping its range play intact around 1.1550, currently adding 0.40% on the day.
