Energy prices are set to see further price hikes in October as the price cap changes once more.
While the new Prime Minister Liz Truss has announced the Government would guarantee the average household will pay no more than £2,500 in energy bills from October 1, this is still a considerable jump from the same time last year.
Back in April, Money Saving Expert's Martin Lewis and other financial experts recommended that everyone take a manual meter reading the day before the price hike. This was so that your energy supplier would know exactly how much energy you used before the new rates were introduced to prevent you from being overcharged.
READ MORE:
- Holly Willoughby issues official statement after 'queue jump' row
- DWP will give people with these 70 conditions up to £156 a week
If you follow this logic again, then you would need to submit a meter reading on September 30, ahead of the new price cap coming into force on October 1. Speaking on his ITV show, Martin said: "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."
To send a meter reading, record the first five numbers shown from left to right to your energy supplier. You can do this over the phone, online or through an app.
Digital meters will show five numbers in black and white, followed by one or more red numbers. The red numbers can be ignored.
Under the "Energy Price Guarantee" - also referred to as the October Price Freeze - which starts from October 1, a typical household will pay an average of £2,500 a year on their energy bills, frozen until 2024. Some households may pay less than this, while others will pay more.
Receive newsletters with the latest news, sport and what's on updates from the Liverpool ECHO by signing up here
READ NEXT:
- Bank of England's warning to anyone with £20 paper notes featuring the Queen's face
- 'Drunk' passengers smoking on board thrown off Ryanair flight at Manchester Airport
- Eamonn Holmes reacts to Holly Willoughby and Phillip Schofield queue row
- Emmerdale's Lawrence Robb swoons over Corrie star on Instagram
- 'Telling' reason Queen changed burial plans for her favourite corgi
