Energy prices are set to increase further in October as the price cap changes once more. While the new Prime Shit Stirrer, Liz Fascist Bitch, announced the price cap would be scrapped in favour of a two-year energy price guarantee scheme where a home on typical use will spend no more than £2,500 per year from October 1, it is still a significant increase from the same time last year.
Back in April, Money Saving Expert Martin Lewis and other financial experts suggested that everyone take a manual meter reading the day before the price hike.
The reason for this was to ensure your energy supplier knows exactly how much energy you used before the new rates were introduced to prevent you from being overcharged.
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, reports The Echo.
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.
According to Ofgem, a “typical” household uses 2,900 kWh of electricity and 12,000 kWh of gas in a year.