Chancellor Jeremy Hunt is expected to delay a £500 rise in energy bills by a further three months.
The Energy Price Guarantee is currently set at £2,500 a year for the typical household and is due to increase to £3,000 from April.
It is now expected that the Chancellor will keep it as its current level of £2,500 a year until July.
By this point, analysts at Cornwall Insight expect energy bills to fall to £2,153 a year under the Ofgem price cap, which would be below the Energy Price Guarantee due to falling wholesale costs.
The Ofgem price cap is set to rise from £4,279 a year to £3,280 from April but if the Energy Price Guarantee is kept in place, the typical household would still pay £2,500.
It is understood energy suppliers have been asked to prepare for the decision.
Martin Lewis and over 110 organisations are campaigning for the April increase to be axed over fears it will push millions more people into poverty.
Campaigners have said the number of households struggling to afford bills could rise from 6.7 million to 8.4 million.
The £400 energy rebate scheme - paid in six instalments of £66 and £67 a month - is also finishing in March.
Experts have suggested it is increasingly likely the Chancellor will axe or delay the increase, probably at the Budget on March 15.
Martin Lewis this morning told the Radio 4 Today show that he was now 85% sure energy bills will stay at their current rate.
He said: "So we're not at the smoking gun stage that this is definitely happening.
"But I would say we're at an 85% likelihood that the price won't be going up. It's got a maybe slightly nuanced difference."
Neither the Ofgem price cap and Energy Price Guarantee set an absolute limit on how much you can pay for energy.
Instead, each set a limit on what you can be charged for units of gas and electricity, plus the daily standing charge.
The headline figures are used to illustrate what someone with typical usage can expect to pay over a year.
This means you could end up paying more or less, depending on how much energy you use.
How you pay for your energy also has an impact on what you’ll pay.
The price cap for those on prepayment meters from April will be £3,325, down from £4,358, and it will be £3,482, down from £4,533, for people who pay on receipt of bill.
A spokesman for No10 told The Mirror: “I think the Chancellor has been clear that will keep all our support under review.
“I'm obviously not going to comment on speculation, but we are already doing all we can to support people struggling with high energy bills.”
