The boss of British and Scottish Gas has warned households across the UK that the energy crisis may last for two years.
Speaking to the BBC, Centrica chief executive Chris O'Shea, said "the market suggests" high gas prices will continue "for the next 18 months to two years". He said the high demand for gas was partly being driven by a move away from coal and oil.
He explained: “As we move towards net zero, gas is a big transition fuel and so as you turn off coal-fired power stations in other countries, there isn't an abundance of gas that you can just turn on quickly."
But Mr O'Shea also threw cold water on the idea of boosting supply from the North Sea as a domestic solution to the crisis.
"I'm not sure an increase in UK supply would have brought the price down from £3 a therm, as it was in December, from 50p as it was a year ago," he said.
"We bring gas in from the United States, from Norway, from Europe, from Qatar, from other places. So we're not in a position to simply have the UK as an isolated energy market. We are part of a global market."
Centrica is the largest supplier of gas to domestic customers in the UK and one of the largest suppliers of electricity, operating under the trading names Scottish Gas in Scotland and British Gas in England, Wales and Northern Ireland.
It also owns Bord Gáis Energy in Ireland.
Mr O'Shea's comments come after industry leaders warned a taxpayer-backed support package for energy-intensive businesses hit by the surge in gas prices may be no more than a "flimsy sticking plaster".
Prime Minister Boris Johnson is reportedly backing a plan being developed by Business Secretary Kwasi Kwarteng for state loans to firms threatened with closure over the winter.
The move follows an extraordinary Whitehall turf war between Mr Kwarteng and Chancellor Rishi Sunak, which broke out over the weekend, with the Treasury denying there any plans for the UK Government to act.
Six top tips for keeping your home warm this winter
Keep windows and doors shut
Insulate your home for free by keeping the warmth inside. Don’t let heat escape by keeping your windows and doors completely closed whenever possible. Even leaving one window on the latch can cause the temperature to decrease, so stay vigilant.
Use the curtains and blinds
The sun heats your home for free, so make the most of it. Open curtains and blinds during the day to let heat in and shut them once the sun goes down. In the dark, curtains and blinds act as another layer of insulation to keep warmth inside the home.
Close the chimney
Heat rises, so one very common way heat escapes is up the chimney. To prevent this from happening, use a chimney balloon to close your chimney and keep heat inside.
Use draught excluders
Even when you keep your doors closed, heat can escape a room through the cracks of a door frame. If you don’t use some of the rooms in your home as often, there is no point in heating them. Keep the warmth inside the rooms you are using by placing a draught exclude r underneath the closed door.
Put down a rug
A considerable amount of heat is lost through cold floors, especially if you have hardwood or stone flooring. By placing down a rug you can help prevent heat from being lost to the cold floor.
Install window insulation film
Window insulation film is a plastic film similar to cling film that is applied to glass to reduce heat loss. It is a cheap and simple way to keep your home warm without putting on the heating.
Not on the list, but one of the most obvious ways to heat up is to put on an extra layer. If you’re feeling the cold, pop a jumper or cardigan on and you’ll feel warmer in no time.
However, if all else fails and putting on the heating is a must, one way to effectively control the heating usage is by upgrading to an automated smart home heating system.
Smart home heating systems allow householders to easily control their heating even when they are not at home. This can keep usage to a minimum and potentially reduce energy bills - all year round.
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