The chief executive of energy giant E.ON has warned the public that exorbitant energy prices are here to stay.
Michael Lewis said he expected almost 40 percent of customers will struggle to pay their bills in the autumn, with millions at risk of being plunged into fuel poverty.
One million of the energy company's eight million accounts are already in arrears, and this is set to rise to four million by October.
Shockingly, Lewis has warned that things are set to get much worse, as costs could reach £3,000 a year when the energy price cap rises this autumn.
Speaking on the BBC Sunday Morning show, Lewis said: "I read emails from customers regularly, I listen in on calls, and frankly, some people are at the edge. They simply cannot pay and that will get worse."
He continued: "It's a very, very significant impact and that's why we've called upon the government to take more action. We do need more intervention in October and it has to be very substantial.”
Despite calls for rebates to be raised to £600 and help ease the crisis, the Conservative government is keeping it at £140. According to the Joseph Rowntree Foundation, 22 percent of the UK is now living in poverty.
The E.ON chief had devastating news to accompany these grim findings, as Lewis said the crisis will last at least a year and a half.
"I think for the next 18 months we're likely to see higher prices. That's already baked in, certainly in October and probably into next year as well. I think the longer-term development depends on what happens in the war in Ukraine [and] how Russian gas flows will develop."
When asked directly about a windfall tax and Lewis calling on the Tory government to "tax those with the broadest shoulders", Nadhim Zahawi, the education secretary, told Sky News: "We will look at all the options."
