A general view of a household energy bill displayed on a mobile phone held next to a gas hob. Families across Great Britain will find out on Friday how tough energy bills will be this winter but they may have to wait to discover what the Government will do to help Picture date: Thursday August 25, 2022. (Photo by Yui Mok/PA Images via Getty Images)

British energy bills will rise 80% to an average of £3,549 ($4,188) a year from October, regulator Ofgem said on Friday, calling it a “crisis” that needed to be tackled by urgent and decisive government action.

Ofgem CEO Jonathan Brearley said the rise would have a “massive impact” on households across Britain, and another increase was likely in January, reflecting significant pricing pressure in energy markets.

He said Britain’s next prime minister — either Liz Truss or Rishi Sunak — needed to take immediate action once in office next month.

“It’s clear the new Prime Minister will need to act further to tackle the impact of the price rises that are coming in October and next year,” Brearley said.

“The re