Energy price rise: Four things you should do before your bills increase tomorrow
30 September 2022, 08:27 | Updated: 30 September 2022, 08:33
Martin Lewis reveals how much households are going to have to pay amid cost-of-living crisis
Energy price rise October 2022: What to do before the rise in energy prices tomorrow...
Ofgem’s energy price cap rise is coming into effect tomorrow, with the average energy bills increasing from £1,971 to £2,500.
This means households across the country will see the biggest rise in living costs so far due to soaring inflation.
So what do you need to do before bills increase tomorrow? Here’s what we know…
- Martin Lewis explains why you don't need to submit meter readings tomorrow
- Martin Lewis reveals 'easy trick' to get £175 by spending just £2
Check meter readings
Suppliers need regular readings from your gas and electricity meter to calculate your bills.
This allows suppliers to estimate usage, so if you don’t supply these accurately then your bills could be too high.
But while many people might be rushing to get a final reading of their gas and electricity usage before the hike, Martin Lewis has reassured families they can send in their readings over the next week.
In his latest Money Saving Expert newsletter, Martin said that whether you read your meter "a few days before, or even a few days after… the difference will be tiny".
If you’re worried about not getting through to your supplier in time, take a photograph of the reading so you have a time-stamp of it.
Find out how your £400 rebate will be paid
All households will get a one-off £400 cut to their fuel bills from October.
Martin Lewis explains rising electricity costs
You don't have to contact your supplier about the discount, as it will be made automatically by energy suppliers in England, Scotland and Wales.
How you’ll get it all depends on how you pay for your gas and electricity bill.
If you’re paying by direct debit, you’ll receive a discount automatically, or as a refund directly into your bank account once the monthly direct debit has been taken.
It will be spread over six months, with a reduction of £66 in October and November, and £67 every month between December and March 2023.
If you’re a prepayment meter customer, you’ll get redeemable discount vouchers or Special Action Messages (SAMs) in the first week of each month.
Check if your direct debit has been increased
Many suppliers increased direct debits in August before the October price rise to help households spread out the costs of rising bills.
However, with the price cap now frozen at £2,500, many families might be overpaying every month.
While overpaying could help even out the costs by building up credit, with the £400 discount, some households could be paying much more than needed.
Contact your supplier if you're struggling
Martin Lewis says if you're falling behind with your energy bills, the best thing to do is contact your supplier as soon as possible.
Under rules from Ofgem, your supplier has to help you – usually by negotiating a payment plan that you can afford.
Find out more on the Money Saving Expert here.
