Money Saving Expert Martin Lewis has issued a dark warning after a 'catastrophic' announcement hit 22 million households in the UK.
Speaking on ITV, Martin slammed the price cap rise announced by Ofgem today.
Earlier today it was confirmed that the average energy bill will increase by £693 per year, and will plunge countless people into poverty.
Martin Lewis now says rising energy costs of around £700 a year will be "catastrophic and disastrous for people's bills".
READ MORE: Simple ways every household can cut their energy bills by more than £700 per year
"How the hell are so many people ... they are not going to be able to afford it!" Lewis said.
Millions of households will see their energy bills hiked by almost £700 from this April, regulator Ofgem has confirmed.
Those on default tariffs paying by direct debit will see an increase of £693 from £1,277 to £1,971 from April 1 - an eye-watering rise of around 54%.
Prepayment customers will be worst hit, with an increase of £708 from £1,309 to £2,017, according to the Mirror.
The move will affect some 22 million households and follows follows a 12% rise in October.
The energy regulator Ofgem was forced to hike the energy price cap, which limits how much a customer is charged for a normal level of energy use every year.
The decision is likely to impact 22 million households across Great Britain, and applies to those who are on their energy supplier's default tariff.
These are the deals people are on if they come off a fixed-rate deal and don't switch to another fixed rate but stay with their same provider.
The price cap also limits how much you pay if your energy company went out of business and you have been switched to a new deal with another provider.
Around 70 to 75% of households are limited by the price cap and are set to pay more.
"We know this rise will be extremely worrying for many people, especially those who are struggling to make ends meet, and Ofgem will ensure energy companies support their customers in any way they can," said Ofgem chief executive Jonathan Brearley.
"The energy market has faced a huge challenge due to the unprecedented increase in global gas prices, a once in a 30-year event, and Ofgem's role as energy regulator is to ensure that, under the price cap, energy companies can only charge a fair price based on the true cost of supplying electricity and gas."
The price cap is reviewed twice a year by Ofgem.
Many energy firms have been unable to take the extra strain of rising gas prices they cannot pass on due to the cap, and have been forced to stop trading.
