The new Prime Minister of Great Britain, Liz Truss, announced on Thursday a cap on energy prices for consumers at 2,500 pounds (over 2,800 euro) per year for an average household, in the face of rising living costs, AFP reports, according to Agerpres.

The much-anticipated measure applies from October 1 for two years and represents “savings of £1,000” a year on what households would have had to pay without government intervention amid expected price rises from the first day of next month, explained Truss, who spoke in parliament, where he also announced a six-month freeze on energy prices for businesses.

Liz Truss also announced on Thursday a review, by the end of 2022, of the country’s path to carbon neutrality in 2050, to ensure it is achieved “in a way that is good for business and good for growth “.

Ms Truss, who said she remains “fully committed” to the carbon neutrality goal, also announced to British MPs that the moratorium on hydraulic fracturing in the country would be lifted. Downing Street also wants to increase the share of nuclear energy, which has a limited and aging fleet of plants in Britain.

The support measures, which also include a temporary rise in energy taxes to fund the transition to carbon neutrality, were not quantified on Thursday but will cost tens of billions of pounds, financed by loans.

According to several media outlets, including the Times, the bill would amount to 150 billion pounds. This amount is greater than the £70 billion spent on paying the wages of unemployed workers throughout the pandemic.

It is also a drastic departure from the campaign led by Liz Truss, who described direct aid as “bandaids” that cannot solve the underlying problems.