Energy expert urges Brits to take a meter reading on Wednesday as bills set to rise

With the latest energy price cap coming into force on Thursday 1 October, the energy experts at Go.Compare are urging households to submit a meter reading, check their tariff and understand how future cap changes could affect what they pay. 

Ofgem has confirmed that the price cap will rise by 4% from 1 October to 31 December 2026, taking the typical annual dual-fuel bill from £1,663 to £1,723 for a household paying by Direct Debit.* The cap limits the maximum unit rates and standing charges suppliers can charge customers on default tariffs, but it is not a cap on the total amount households can pay. 

The increase comes as wholesale gas prices remain high, with Ofgem citing continued volatility in global gas markets as the main driver of the rise.* 

Gareth Kloet, energy expert at Go.Compare, said: “When the price cap changes, it’s a good idea to take a meter reading as close as possible to the new rates coming into effect, and send this to your energy supplier. This gives your provider a clear record of what you used before the new prices started, which helps make sure any energy you use before 1 October is charged at the current rate, before the higher cap is applied. If you have a smart meter, your readings should automatically be sent to your supplier, but it’s still worth checking that your account is up to date. 

“The price cap is reviewed quarterly by Ofgem and limits the unit rates and standing charges suppliers can charge customers on standard variable or default tariffs. It’s important to remember that it isn’t a cap on your total bill - what you pay will still depend on how much energy you use, where you live and how you pay. 

“Customers on fixed tariffs will not be affected by the October price cap rise unless their deal is due to end and they move onto a default tariff. If that applies to you, it can be a good idea to switch to another tariff straightaway. Check when your current deal finishes, look at any exit fees, compare the unit rates and standing charges on any new tariff, and make sure you’re comfortable with the terms before switching. 

“Future price caps can rise or fall depending on what happens in the wholesale energy market, so billpayers shouldn’t assume that costs will move in one direction only. The cap is reviewed every three months, which means households on default tariffs could see their bills change again at the next review. Keeping an eye on your usage, checking whether your current tariff still works for you and submitting regular meter readings can all help you stay in control if prices move again.” 

“If you are worried about paying your bill, contact your supplier as soon as possible, as they may be able to offer support or help you set up a payment plan. There are also small day-to-day changes that can help households reduce their usage, like only boiling the water you need, batch cooking where possible, using homemade draught excluders and switching appliances off standby.” 

To learn more about the energy price cap, visit: https://www.gocompare.com/gas-and-electricity/guide/energy-price-cap/. 

And for more information on how to switch energy providers, Go.Compare has put together a guide which you can find here. 

For a comprehensive list of energy saving tips, visit: https://www.gocompare.com/gas-and-electricity/guide/energy-saving-tips/.