In just a week's time, the Ofgem energy price cap will increase for billpayers nationwide. From October 1, the new price cap will rise to £1,717 per year for a typical dual fuel household who pay their bills via direct debit.
This represents a significant rise of £149 higher than the current £1,568 price cap. The energy price cap limits the amount that a supplier can charge for their default tariff.
However, consumers are urged to take accurate and timely meter readings to avoid being overcharged on their electricity usage.
Taking an exact reading either on September 30 (the last day of the running energy rates), or October 1 (first day of the new rates), helps prevent energy firms from estimating your energy consumption inaccurately and thus overcharging you.
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