This means 1.2 million and 1.5 million households could be added to the four million already struggling to heat their homes, according to charity National Energy Action, the charity said.
A government minister earlier warned of the collapse of more energy suppliers.
The energy regulator Ofgem has said there could be further energy price prises, which analysts said could mean a typical customer paying between £400 and £600 more per year.
A price cap limits the impact of rising energy costs for customers, but Ofgem said the cap would rise to take wholesale gas prices into account.
Ofgem chief executive Jonathan Brearley said the cap was “designed to reflect fair costs and therefore will need to adjust over time”.
Nine UK energy suppliers collapsed last month and Mr Brearley said more could follow.
“Given the continued volatility in the market, it is likely more suppliers will exit the market,” he told a conference organised by Energy UK.
Natural gas prices are at record highs as economies around the world begin to recover from the Covid-19 pandemic.
As a result, firms are running into trouble because they have agreed to sell gas at less than the price it now costs them to buy it.
More than 1.7 million customers saw their energy provider go bust in September.
They have already seen annual bill increases of hundreds of pounds when they moved to a new provider and away from whichever low-rate fixed deal their supplier had offered.
If you’re already with the cheapest energy supplier in your area, you’ll find out immediately and there will be no need to switch. The only thing that you will have to do is make sure you are on their cheapest tariff.
As soon as you’ve filled your postcode in and answered a few questions, which literally takes a few minutes, you’ll see a list of all the cheap energy suppliers in your area. This will also include how much you can save with each energy supplier when you make the switch online. You can then go ahead and choose the best energy supplier that offers you the most savings and we will send you an email to confirm the switch. The details are processed and forwarded to the supplier. The supplier will contact you to confirm the date on which your new service will commence. You will have to take a meter reading on this date, to ensure you’re not billed twice for the same energy.
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