ENERGY bills will surge by 20 per cent from April despite wholesale gas prices crashing by 70 per cent and giving the Government a predicted saving of 11billion.
Struggling households will see average bills rise from 2500 to 3000 a year in the spring after the Tories decided to cut subsidy levels under the Energy Price Guarantee.
A 400 payment for all households will also end.
Meanwhile, think-tank the Resolution Foundation estimates the dip in wholesale gas prices since August's peak means the cost of the EPG for the year from April has tumbled from 12.8billion to 1.5billion.
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