Liz Truss was today confirmed as the next Prime Minister of the United Kingdom, winning 57.4% of the votes, the lowest of any previous Tory leader chosen by its members.
In the leadership debates, how to deal with the energy crisis was, for obvious reasons, the main talking point.
If Truss sticks to her word, we can expect an energy plan within the week, although no specific details have been provided as of yet.
The 47-year-old also promised to reverse the national insurance increases imposed in April, cancel the proposed corporation tax rate rises for next April and temporarily remove green energy levies on electricity bills.
As prices continue to spiral thanks to the cost-of-living crisis, today's news should provide some clarity and government intervention on the matter.
Here is a breakdown of some of the key dates coming up for households, although it is worth noting that these are subject to change depending on any legislation that comes in, such as an energy bill freeze.
Kids go back to school
Students will be returning to school shortly, which means parents are faced with the task of new school uniforms, bags, and stationery.
Data from The Children’s Society on the BBC suggest the average price for a secondary school uniform was £337, while it is £315 for primary schools.
Barclaycard research shows, however, that roughly a quarter of parents expect those numbers to be higher, while another quarter will attempt to reuse old uniforms as opposed to buying new ones.
However, a new law which protects parents in England will come into effect this September to stop unnecessary school uniform costs.
Interest rate- 15 September
On 15 September, the Bank of England will decide its next interest rate, which went up to 1.75% in August and is likely to go up to 2.25%.
Cost of living payments
Help in some form is on the way, however, with people on disability benefits receiving a one-off cost-of-living payment of £150 from 20 September, and 8mln low-income households receiving the second instalment, £324, of cost-of-living help.
Energy price cap- 1 October
October will mark the start of the new energy price cap, with the typical bill coming in at £3,549.
The first of the government’s £400 energy rebate will start to arrive, meaning households will receive a £66 or £67 discount monthly until March 2023.
Inflation figures linked to pension- 19 October
For pensioners, 19 October will mark the day the Office of National Statistics will reveal September’s inflation figures, which will see the state pension rise in April 2023.
The ‘triple lock’ will come back into effect, which means the state pension will rise each year in line with inflation, the average wage increase or 2.5%, whichever is highest.
With inflation at 10.1%, pensioners will likely see double-digit rises.
Autumn budget
Normally at the end of October or the start of November, the autumn budget will be announced, with updates to tax, public spending, and other measures which impact people’s finances.
Truss in the hot seat means we can expect a possible cut to VAT and no new taxes.
Interest rates and Monetary Policy Report- 3 November
3 November will see the next interest rate decision and Monetary Policy Report, meaning they could rise again.
Price cap announcement- 24 November
Quickly following on from the heels of the last energy price cap, an updated figure will be given on 24 November, with industry analysts expecting it to rise to £5,386.
Again, this is dependent on what help Truss decides to bring in for households, like if she were to introduce a price cap freeze.
Pensioner cost-of-living payment
More help for households and pensioners, with those eligible set to receive a Winter Fuel Payment worth £200 to £300.
Households with at least one person of pension age will receive an additional £300.
Christmas spending
December means Christmas, usually an expensive period during the best of times for households who look to fill the tree with presents from Santa.
Interest rates- 15 December
Halfway through December will see the final interest decision of the year from the Bank of England, with many forecasters expecting it to rise to at least 3% next year.
Rail fare hikes
Rail fare rises will also be announced in December, although they will not come into effect until March 2023.
With that being said, the figure is expected to be below inflation.
New price cap comes into effect- 1 January
The start of the year will mark the introduction of the new energy price cap, which would have been announced in November.
However, some form of further aid may be in place by then, which would likely impact the amount households have to pay.