EDF Energy’s retail business head warned the UK faces a "dramatic and catastrophic winter" as energy prices are set to soar again this week.
Philippe Commaret called for extra government intervention according to the Guardian, including helping households insulate their homes and a VAT cut for small businesses.
“We face, despite the support the government has already announced, a dramatic and catastrophic winter for customers. In January, half of the UK households might be in fuel poverty,” Commaret told BBC Radio 4’s Today programme, quoted in the Guardian.
Gas and electricity prices are forecasted to hit around £3,500 this week and break past £5,000 by next April as Russia’s invasion of Ukraine and soaring inflation, also predicted to double in early 2023, hit consumers hard.
Ofgem, the gas and electricity regulator, is set to publish its updated energy price cap this Friday.
Commaret added EDF will contact its 100,000 UK customers on how to cut their energy bills, but stressed more government intervention was needed.