It's not scaremongering.
Come October, Utility prices will have more than tripled in under 2 years. You used to be able to get a fix that was cheaper than the price cap so about £900 per year for the standard amount of energy. In October the same amount of energy will cost £3300, nearly four times as much, so an enormous increase that will really be felt by anyone who doesn't have a lot of disposable income.
That's on top of the increases in food, petrol/diesel and mortgage interest rates increasing. Many many people will be in the red every month and will either be getting further into debt or won't be able to afford sufficient heating and food.
Most MPs haven't got a clue what it's like to live like that and we haven't really felt the full scale of the increases yet. A lot of people will be currently robbing Peter to pay Paul, using up savings, cutting back where they can, but after a few months of that, the savings run out and they can't cut back any more and then the October price rise kicks in, anyone on prepay faces the double whammy of higher unit prices and higher winter usage and suddenly they can't keep the lights on and have money available for other essentials.
One thing people do need to do is have realistic conversations about what Christmas is going to look like because the last thing a lot of people need is to get dragged into a cycle of exchanging crap that no-one wants or needs when they'd be better off using their money towards basic essentials.