Energy prices are set to rise for millions of people this week as the new energy price guarantee comes into effect. The price guarantee, announced earlier this month by the UK Government in a bid to tackle the cost of living crisis, will see the typical household's energy bill capped at £2,500 per year – or around £208 per month – for two years starting from October 1.
The new guarantee effectively replaces the price cap, which was set to rise to £3,549 from the start of October and would have plunged millions of people towards fuel poverty, but it means households will still be paying around 95% more on their energy bills this winter than last year.
With this being the last week before the new tariffs come into effect here is everything you need to know about the upcoming changes including when you should take a meter reading, how it affects you, and how much you'll actually pay.
