Martin Lewis has called the new energy price cap "devastating" and has warned that "lives will be lost", as rising costs will put vulnerable people at risk.
The MoneySavingExpert founder was "shocked" by the latest increase, after energy regulator Ofgem announced yesterday an 80.6 per cent price cap rise.
The news has put many Scots under pressure who are already dealing with a crippling cost of living crisis, with many worrying the energy costs will thrust them into poverty.
In fact, there have already been several bombshell reports published on how the rise will severely impact those who are already struggling.
On October 1, the new cap will come into force for for around 24 million households on default energy tariffs in Scotland, England, and Wales, and will remain in place until December 31, when it will be adjusted again, reports the Mirror.
The 4.5 million pre-payment meter customers, who are often the most vulnerable and already in fuel poverty, will see an even more punishing increase, with their average annual bill set to go up to £3,608.
In April the price cap skyrocketed by 54% from £1,277 to £1,971 per year for people who pay for their energy via direct debit.
The £693 increase was driven by a record rise in global gas prices over the previous six months and a quadrupling of wholesale prices in the previous 12 months.
Mr Lewis, speaking on the Today programme on Radio 4 this morning said: "I've been accused of catastrophising. The reason I’ve been catastrophising is because this is a catastrophe.
"It's staggering we've allowed this announcement to be made…and still no help has been announced. It’s catastrophic. It's not good Government, it's not good politics."
Speaking to Good Morning Britain he went on to say: "While this is shocking, it is far from surprising and we need urgent further government intervention."
He said the £3,500 quoted is the average for someone with "typical usage", adding: "Of course, most people don't have typical usage.
"That means there is no maximum amount you can pay for gas and electric."
He said you could "easily" be paying £5,000 to £10,000 a year if you have heavy usage: "I worry terribly for some of those who have disabled children or disabilities themselves who need lots of electrical equipment to keep their houses warm because of medical conditions.
"There's also a price cap for pre-payment, there's also a price cap for those paying in receipt of bills - those caps are higher and I'm afraid to say it doesn't end there."
Mr Lewis went on to say, looking at the "totality" between October and March 2023, "it's going to be, on current predictions, £5,400.
"It's devastating for many vulnerable people," he added.
Lewis said if the current cap was frozen and the government subsidised it, while it's expensive, it is far more manageable.
Ofgem's chief executive Jonathan Brearley also warned of the hardship to come this winter and urged the incoming Prime Minister and new Cabinet "to provide an additional and urgent response to continued surging energy prices".
The regulator said the increase reflected the continued rise in global wholesale gas prices, which began to surge as the world unlocked from the Covid pandemic, and had been driven still higher to record levels by Russia slowly switching off gas supplies to Europe.
Chancellor Nadhim Zahawi said the increase in the energy price cap would cause "stress and anxiety" for people, but that the Government was working to develop more options to support households.
He blamed Vladimir Putin for driving up energy prices "in revenge for our support of Ukraine ".
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