Tuesday, December 6 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Dec 05
Week of Nov 28
Week of Nov 21
Week of Nov 14
Week of Nov 07
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Everything you need to know ahead of energy price cap rise on October 1


    September 30, 2022 - Furvah Shah

     

      From October 1, most households will see their energy bills rise as the government’s price cap comes into effect.

      Prime Minister Liz Truss announced that the average gas and electric bills would be capped at £2,500 – depending on usage – for two years to help households deal with spiralling prices.

      Energy providers have urged customers to take meter readings before the cap comes into force and warned that those who don’t could be overcharged.

      Here’s everything you need to know ahead energy price cap rise.

      What is the energy price cap?

      The energy price cap, calculated by the regulator Ofgem, is a limit on the maximum amount energy supplies can charge you for each unit of energy you use if you live in England, Scotland and Wales.

      It applies if you’re on a default energy tariff, regardless of how you pay your bills and is dependent on usage. That means some households may still pay above the £2,500 average cap if they use more gas and electricity.

      When does the energy price cap change?

      Before October 1, the cap was set at £1,971 and was then expected to rise to over £3,500, as predicted by Ofgem.

      But, it will now stay at £2,500 until 2024 – when the next general election is set to take place – after an intervention by Prime Minister Liz Truss.

      How can I save money on my energy bills?

      Energy suppliers recommend that customers submit gas and electricity readings before October 1, so they can calculate usage correctly.

      Frazer Scott, chief executive of Energy Action Scotland, said: “This week, every household across the UK must make sure it submits a meter reading to their energy firm to avoid paying a penny more than they absolutely have to when prices go up on 1 October.”

      Most energy providers will allow customers a grace period to submit their pre-October readings, which will then be backdated.

      All households are also entitled to a one-off £400 cut in their bills from October, which is deducted automatically. This means you do not need to contact your supplier and the payback will be spread over six months.

      If you use a traditional payment meter, however, you will be entitled to a voucher for this deduction, which can be cashed in wherever you top up your gas and electricity.

      People are also being urged to contact their suppliers if they can’t pay their bills.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.