UK's Healey says he will end standing charges on household gas bills

British ​finance minister John Healey ​said he ‌would cut ​energy costs for households by scrapping standing charges on ‌gas bills as part of his first budget which is due to be announced in ‌full later on Wednesday. Standing charges are ‌fixed daily fees that cover the costs of connecting a home to a gas supply and ⁠are ​charged ⁠regardless of whether energy is being used.

Healey will ask ⁠regulators to remove the charges – which cost £108 a ​year for the typical household on average – ⁠in 2027 or as soon as possible after ⁠that, ​the Treasury. The costs will be shifted to the price of gas consumed ⁠which could save 60% of account-holding households around ⁠an ⁠average of £45 ($59.91) on their annual bill, the Treasury said.

($1 = 0.7511 pounds) (Writing by ‌William ‌Schomberg; Editing by ​Kate Holton)