Don’t get caught out by the price cap change

With less than a week to go until the energy price cap changes on 1 October, it’s a good idea to be prepared and submit a meter reading this week.

Energy bills are set to rise by 9% from Tuesday because of Ofgem’s change to the price cap, bringing the average payment to £1,714 a year.

Submitting a meter reading close to the date of the price change means you’ll pay the right amount for the energy you use.

Energy companies use estimated readings if you don’t, meaning you could risk over- or under-paying.

What is the energy price cap?

The energy price cap is set by Ofgem and is a limit on how much energy suppliers can charge for gas and electricity.

You're covered by it if you pay by:

• standard credit (payment made when you get your electricity and gas bill) 
• Direct Debit
• prepayment meter
• Economy 7 (E7) meter

Why should I submit a meter reading?

If you provide an accurate reading before the price cap increases, your energy supplier will charge you based on this.

As it’s a lower rate, it could save you some serious cash – especially if you use more energy before the price change.

What do I need to do if I have a smart meter?

If your smart meter sends regular readings to your energy supplier, you don’t need to do anything as it’ll happen automatically.

You can check your account or bill to make sure your readings are being sent.

Struggling with energy bills?

If you’re having trouble keeping up with your energy bills, reach out to your supplier.

Some of them provide grants if you’re really struggling, or you might be able to set up a payment plan for what you owe.

If you’re vulnerable, check if you can join the priority services register so you can get additional support from your energy supplier.

Read our guide on what to do about energy arrears.