Ofgem raises dual-fuel price cap to £1,755 on Oct 1

Regulator Ofgem will raise the energy price cap on Wednesday, October 1, increasing the typical annual dual-fuel bill paid by direct debit from £1,720 to £1,755, a rise of about 2 percent that will take effect as households begin to use more energy for autumn and winter. Consumers are being urged to take steps now to avoid unnecessary extra charges and to consider switching tariffs ahead of the change.

One immediate way households can limit the impact is to submit accurate meter readings close to the rate change. Taking a reading on September 30, the last day of the current rates, or on October 1, the first day of the new rates, can prevent suppliers from relying on estimates that may overstate usage. Smart meters will report automatically, but those with other meters should note their type and read accordingly. Standard digital meters display five main digits; record the first five from left to right and ignore red digits. Two-rate digital meters show two rows; record both main numbers. Dial meters have five or more rotating dials; read the first five left to right, using the lower number when a pointer sits between two digits and following the standard rule for transitions...