The boss of one of Britain’s biggest energy companies expects it to take a £100 million hit from the record rise in wholesale energy costs.
As households brace for another hike in energy bills this spring, Octopus Energy founder and chief executive Greg Jackson said the business – now Britain’s fifth biggest electricity and gas supplier – was expecting big, but not fatal, losses.
He recently warned its UK customers that gas and electricity bills were likely to rise more than 75 per cent from April, when the Government updates the cap on fuel charges. In an email to customers, he said he feared many people did not "truly appreciate the size of the issue" facing householders.
