Energy customers warned to take action within 48 hours ahead of Ofgem price cap rise

dailyrecord.co.uk:

Anybody with British Gas, Octopus, EDF, OVO and other energy companies has been reminded to do one vital task at home before prices are set to rise in the New Year.From January 1 2024, the Ofgem energy price cap will rise, meaning households who pay for their energy on a standard variable tariff will end up paying more across the year.The price for energy a typical household who use gas and electricity and pay by Direct Debit will go up by £94, taking the price cap from £1,834 to £1,928 per year.

But taking a meter reading before the year is out can help to ensure that you're accurately charged.Birmingham Live reports that energy experts at Uswitch have issued some advice to homeowners to prepare for the price cap rise.And one of the most important things is to send a gas and electricity meter reading within the next two days before January 1 hits, as this will help your provider to put the correct price on the energy you've been using for the past three months.Natalie Mathie, energy expert at Uswitch.com, said: “The cost of energy for households on standard variable tariffs is going up on January 1, which means energy bills are likely to be the highest they’ve ever been for most homes this winter. “With costs increasing at the coldest time of year, households should take some steps beforehand to ensure they are accurately charged for the energy they have used in the past three months.

Households without a smart meter should submit their readings to their supplier on or around December 31. This will ensure your usage from December will be charged under the cheaper rates, and not the more expensive January prices.