Did you know with a Digital Subscription to The Star, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Today (1 October), the energy price cap has risen by 10% for the next three months, adding £149 annually to the average household bill. Advertisement Advertisement Almost 10 million households have been told they risk overpaying for their energy if they do not send meter readings to their supplier, as a 10% price rise takes effect.
Households on a standard variable tariff (SVT), as opposed to a fixed deal, and who do not have a smart meter, should submit their electricity and gas readings to their supplier as soon as possible if they have not already done so, to ensure any energy they have used before October 1 is not inaccurately billed at the higher prices. Suppliers who have not received meter readings base their bills on estimated usage, meaning households could be overpaying, while others may not be paying enough. Advertisement Advertisement But even if you’re unable to submit a meter reading in a timely fashion, there are still things you can do to limit your energy usage as we head into winter, which will save you money in the long run.
Amy Knight, personal finance expert at NerdWallet UK , has offered a few simple tips that you can implement from today to help bring the cost of bills down. “When money is tight, paying the same amount for energy each month makes budgeti.