The average U.K. household faces paying a £2,500 ($2,900) annual bill for the next two years, up from £1,400 in October 2021.
A "very active intervention, vaccination-style," is needed to tackle the crisis and prevent future energy crises from happening, said Raman Bhatia, CEO of clean energy-focused supplier Ovo Energy.
Ovo CEO Raman Bhatia called for action of a similar scale to that of the country's rollout of Covid vaccines, an initiative core to its lockdown exit strategy. The crisis has its roots in the Covid pandemic as the reopening of economies led to a sudden energy demand surge. Already, people are struggling to pay their energy bills, while some have refused to pay.
"What we as a sector expect [and] what I would expect is some sort of support to continue beyond April so that we don't end up with a cliff edge," he said.
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