The UK government has announced its extension of the Energy Price Guarantee, keeping the energy price cap at £2,500 until June instead of increasing by £500 to £3,000.
Although the £400 winter fuel payment will not be renewed, the government hopes this extension will ease the cost of living crisis for hardworking families.
The government's move to hold down energy bills reflects their strategy to boost economic growth.
The Mirror states that falling global energy prices mean that the current level will be extended.
Meanwhile, the Independent reports on the Treasury's £3bn cost reduction by cancelling the planned 20% increase.
Rishi Sunak, the UK Prime Minister, believes "continuing to hold down energy bills is part of our plan to help hardworking families with the cost of living and halve inflation this year".
BBC News highlights the government's aim to boost growth while the Bank of England predicts a forthcoming UK-wide recession.
The Independent also references mounting pressure on the government to cancel the rise in energy prices.
In summary, the UK government has decided to extend the Energy Price Guarantee cap, holding down annual household energy bills at £2,500 until June.
This plan was implemented in favour of limiting the increase of energy bills to £3,000 from April.
The government's decision of upholding the Energy Price Guarantee aligns with their strategy of boosting economic growth which has faltered in recent months; however, the Bank of England anticipates recession to commence this year.
Sources differ on the cost of this decision; the Treasury states a £3bn cost reduction while Prime Minister Rishi Sunak assures the public that it aims to ease the cost of living.