What options are Liz Truss and Kwasi Kwarteng considering to tackle the energy crisis?

Shehab Khan reports on the policy that could define Liz Truss's premiership just days into the job

Liz Truss and Kwasi Kwarteng are set to announce their policy to tackle the energy crisis on Thursday, and after months of work by civil servants they have several options on the table.

The new prime minister and chancellor have had very little time to get ready for the announcement that could define their time in office and could be one of the most expensive policies ever legislated by a British government.

The current energy price cap is at £1,971 and is set to rise to £3,548 next month.

It is already at record-high levels and is unaffordable for many.

It is predicted it could rise as high as £7,000 next year.

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know...

This sharp rise has caused alarm for almost every household in the UK and the government has come under intense pressure to offer a solution for it, something that was delayed by the Conservative party leadership election.

During the summer, treasury officials have been working on solutions to the crisis that have been presented to Ms Truss.

ITV understands she and Mr Kwarteng favour freezing the price cap between £2,000-£2,500.

Mr Truss has ruled out windfall taxes and general tax increase to pay for the policy, so where the money will come from has not yet been revealed.

Mr Kwarteng on Wednesday said borrowing would need to go up to tackle the crisis but with predictions that the policy could cost as much as £100bn, it is not certain how much of it will be covered by increasing the deficit.