This October will see another big rise in energy costs as Ofgem ups the price cap to an expected £3,687 - close to double today’s already record levels.. And analysts at energy consultancy Auxilione are now claiming it could jump up to around £4,400 in January 2023.
When the price cap was raised in April, Money Saving Expert founder Martin Lewis recommended all homes take a meter reading the day before the new price came into force. This means you tell your energy provider exactly how much gas and electricity you used before the price cap increase, reports the Mirror.
Following this logic again, then you would need to submit a meter reading on September 30, ahead of the new price cap coming into force on October 1.
