British Gas have issued a message to their customers ahead of the October price cap increase.
In an email, the energy giants explained that the average household cost of energy will be capped at £2,500 as of October 1. It will be frozen at this rate for the next two years as part of Liz Truss' Energy Price Guarantee.
The changes could save the average household up to £1,000 per year. It comes in addition to the £400 Energy Bills Support Scheme.
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The retailers explained what this meant for their customers and what would happen next. They advised: "We're working through what this latest announcement means for you, so keep an eye out for an email from us."
They also hinted that people shouldn't call up to find out more information. The email added: "At the moment, our customer service advisors don't have any further information. So, the best thing you can do is to wait for us to contact you or log in to your online account to find your latest tariff information."
British Gas also offered advice to their customers on a fixed rate tariff. On their latest guidance, they said: "If you're currently on a fixed rate tariff, especially if you recently moved to one, you may want to consider switching to our standard variable tariff."
They added: "If you switch to our standard variable tariff now, we'll let you know how the increase in rates will impact you by email in the next few weeks."
When you will see the new price cap rates reflected in your bills
- Pay as You Go (Prepaid meter) - First top up on/from October 1
- Fixed Direct Debit - British Gas will recommend a new payment amount on your next Direct Debit review
- Variable Direct Debit - The next bill received after October 1
- Cash or Cheque - The next bill received after October 1
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