The TUC have calculated that energy bills will rise 9.5 times faster than wages this year.
Energy bills will be 52% higher in April 2023 than they were in April 2022, the trade unions group says, once the government’s price guarantee rises to £3,000 per year.
That’s because a year ago, Ofgem lifted the price cap on default tariffs to £1,971 per year from April 2022.
Since last April, nominal wages (excluding inflation) are forecast to have grown by 5.5%.
TUC General Secretary Paul Nowak has added his voice to those urging Jeremy Hunt to keep average bills at £2,500 per year – the current level.
Nowak says: “Energy bills are out of control. The government must cancel April’s hike.
“With the cost of wholesale gas plummeting ministers have no excuse for not stepping in.
“Families across Britain are at breaking point. Prices are skyrocketing, but wages are failing to keep pace with the cost of living.”