UK energy bill boycott petition gains traction as new PM Truss under pressure to announce relief measures

The U.K.’s Don’t Pay movement is aiming to amass 1 million supporters who will cancel their direct debit payments to energy companies in October as bills soar.

A petition to boycott energy bill payments is gaining traction in the U.K., as the country faces its worst cost of living crisis in a generation.

More than 170,000 people have pledged to cancel their direct debit payments to energy companies if the Don't Pay movement succeeds.

If a total of 1 million signatures are gathered before the October deadline, the campaign organizers will be able to fulfill their pledge.

The government warns that it could cost consumers more money in late payments.

CNBC requested comment from the Don't Pay movement. The campaign is intended to gain temporary leverage and encourage government support, according to a statement on its website. People on prepayment meters should not participate in the event as their power supplies could be cut.

The main cap on domestic energy bills will be raised by 80% from October, taking the average yearly household payment to over $4,000.

Following Russia's invasion of Ukraine, global energy markets are under pressure.

Millions of Britons will not be able to pay their gas and electricity bills this winter due to the surge.

U.K. energy bills are set to rise by 80% in October with analysts expecting further hikes in early 2023.

Fuel poverty is defined as the inability to adequately heat or cool a home by the End Fuel Poverty Coalition.

In a recent study, the campaign group found that U.K. homeowners will need to earn at least six figures to avoid fuel stress.

The public wants to be kept warm this winter and we need to see more emergency money for people this winter, funding to help everyone cut their bills with better insulation, and a rapid move away from expensive gas and onto cheaper, renewable energy.

The impact of fuel poverty will be devastating without urgent government action.

Liz Truss is under pressure to announce new energy relief measures quickly.

The number of people who signed up for the Don't Pay campaign went up in the hours after Monday's victory.

A £400 discount on all energy bills was one of the measures announced by the government. Activists argue that more support is needed.

She has said that she will announce new support within a week of taking office, but until now she has been very vague. According to reports following her appointment Monday, the measures could be worth up to 100 billion.

Market analysts say that could help to ease bill payments for Britons this winter, as well as helping to curb the U.K.'s high rate of inflation.

Holger Schmieding, chief economist at Berenberg Bank, wrote in a research note that a price freeze would make a big difference to inflation.

He said that price pressures would continue to rise for a long time after a major handout.