Millions of Brits are staring down the barrel of a huge rise in the costs of their gas and electricity. The energy price cap will rise to £3,579 from October, energy regulator Ofgem announced on Friday (August 26).
It's a huge 80% increase of the average UK household and adjusted again, with latest forecasts warning bills could surge again to around £5,400 in January and around £7,000 in April.
When the price cap last increased back in April, many experts including Martin Lewis suggested people could take meter readings the day before the new price cap comes into effect, the Mirror reports.
This means customers tell their energy providers exactly much gas and electricity they are using before the price soars once again, reducing the risk of you being overcharged. Applying the same logic, customers should look to submit an energy meter reading on Friday, September 30, the day before everything goes up.
Mr Lewis told viewers on his ITV show earlier this year: "That way you draw a line in the sand that says to your energy firm, I've only used this amount at the cheaper rate.
"Don't start charging me more on the higher rate and estimating I use some of it afterwards."
Energy company E-On hit out at Mr Lewis in March after hundreds of thousands tried to submit their meter readings at the last minute for the April rise, causing its site to crash. Companies such as British Gas and Scottish Power had similar problems during the end-of-March panic.
Ofgem has just announced that it will now review its price cap four times a year, instead of twice a year. It will now review the price cap every January, April, July and October.
The Government has pledged help for households this Winter. A discount of £400 will be applied to the gas and electricity bills of households across the country from October.
This will be automatic and people do not need to apply for it. Around 29 million homes across England, Wales and Scotland will receive the new support.
