The incoming British Prime Minister Liz Truss has pledged to address the issue of the energy price crisis that is staggering most of the world’s economies.

Truss succeeded Boris Johnson after winning a leadership race for the governing Conservative Party against former finance minister Rishi Sunak, on Monday, September 5.

She won by 81,326 votes to 60,399. According to the British ritual, the outgoing prime minister first has to tender his resignation to Queen Elizabeth II who then appoints the new one.

Truss, 47, has promised to act quickly, saying within a week she will come up with a plan to tackle rising energy bills and secure future fuel supplies, according to media reports.

"I will deliver a bold plan to cut taxes and grow our economy," Truss said after the result was announced. "I will deliver on the energy crisis, dealing with people's energy bills, but also dealing with the long-term issues we have on energy supply.

Among other vows, Truss, who was serving as foreign minister, said that she would deliver a victory for the party at the next British election expected in 2024.

Outgoing Premier Johnson congratulated Truss, via his Twitter handle, on what he called her "decisive” win and said she had the "right plan to tackle the cost of living crisis, unite our party and continue the great work of uniting and levelling up our country.