The new energy price cap is looming that will see household bills for millions soar to record highs.
Regulator Ofgem announced that the price cap will rise to 54 per cent adding an extra £693, resulting in the average bill jumping from £1,277 to £1,971 a year. Those on prepayment meters will see an even bigger increase of £708.
Financial journalist Martin Lewis has continued to encourage people to stick with their current provider as there are have not been any deals or discounts on tariffs. The majority of fixed tariffs right now are above the price cap and Mr Lewis explains it is best to go onto a fixed tariff only if it is close to the price cap.
