Consumer champion Martin Lewis has written to the Chancellor to call for April’s planned rise in the energy price guarantee to be scrapped.
The average bill is expected to rise from £2,500 to £3,000 but Mr Lewis, who founded the website MoneySavingExpert.com, has said it is no longer necessary because wholesale prices have “come down very substantially”.
He said: “It just seems to me there is no need to do this. If we postpone this rise it is likely from July, wholesale prices will have gotten to the price cap and if the energy price cap which is set by the regulator and is dictated by wholesale prices, is lower than the energy price guarantee we pay the lower amount, and that is likely to happen from July.
