The Telegraph, citing various top energy company executives and government officials, reported a worsening economic situation due to gas prices
Stephen Fitzpatrick, the head of OVO Energy, Britain’s second-largest energy supplier, compared the current situation in the country to the period between the collapse of Northern Rock Bank and the collapse of Lehman Brothers a year later, the newspaper wrote.
According to the top manager, the British energy market is waiting for a fiasco, and the end of the crisis is not coming soon. Fitzpatrick also accused the government of being too slow in finding appropriate solutions to the impasse.
Wood Mackenzie analyst Neyvan Burujerdi added that the authorities could impose a one-off levy on companies amid extreme prices. But, he said, this would be a mistake as it could lead to an end to investment in the industry.