Industry unites behind plan for crisis fund to control soaring energy bills

A state-backed deficit tariff scheme' supported by banks would freeze energy bills at their current rate

The energy industry has united behind a plan to set up a crisis fund that could prevent bills from soaring next year and provide a lifeline for households struggling with the cost of living.

Energy UK, the trade body for the sector, has written to the chancellor, Nadhim Zahawi, to back calls for a deficit tariff scheme" to be established as a long-term solution to the energy crisis.