The UK economy is expected to deteriorate due to rising gas prices, similar to what happened during the 2008 financial crisis.
This is reported by The Telegraph, citing various top managers of energy companies and government officials.
Stephen Fitzpatrick, chief executive of OVO Energy, the country's second-largest energy supplier, compared the current situation to the period between the collapse of the Northern Rock bank and the collapse of Lehman Brothers a year later, the publication said.
A top manager predicted a fiasco for the UK energy market. According to the head of OVO Energy, the crisis will not end soon. Stephen Fitzpatrick also accused the government of the very slow search for suitable solutions to get out of this situation.
Wood Mackenzie analyst Neyvan Burujerdi said that officials could hold a one-time levy from companies in the face of extreme prices, which, in his opinion, would be a wrong move, as it could lead to the cessation of investments in the industry.
The government said it was in constant contact with industry representatives and promised to protect consumers from price increases, the publication said.