Earlier today, it was announced that the energy price, which puts a ceiling on domestic bills is likely to hit £2800 an increase of more than £800.

To combat the rise, UK Chancellor Sunak is looking to announce a minibudget as early as Thursday to help struggling households with their energy bills.

However, the prime minister Boris Johnson and Sunak have yet to agree on key issues including an energy windfall tax that could fall on North Sea oil and gas producers and electricity generators – including windfarm operators – which have benefited from soaring global prices in recent months.

The funds from the windfall tax be used to fund a direct energy bill rebate that could total up to £10 billion.

Boris Johnson is reportedly favoring steps that would benefit middle earners

If an agreement cannot be decided by Thursday then it would have to wait until early June.

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