The Chancellor announced a package of reforms to "radically reduce" energy costs for businesses, especially manufacturing, pledging savings of up to £7 billion by 2018/19 for industry as well as households.
George Osborne said the move will particularly benefit the most energy intensive manufacturers, around 80% of which are based in the North of England, Scotland and Wales.
Measures will include capping the carbon price floor (CPF), which sets rising amounts for the carbon tax paid by electricity generators.
More top news
The father of Ched Evans' rape victim claims people are trying to track down and kill his daughter over the ordeal.
Tacloban in the Philippines is still trying to pick up the pieces one year on from the devastating Typhoon Haiyan.
A new teacher has been hailed a hero after she intervened when a student opened fire in a school killing a girl and injuring four others.