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Households are being advised to take energy meter readings before prices rise on 1 October. Bills for businesses are also changing. Submitting accurate meter readings means providers won’t accidentally charge you at the higher rate for your earlier energy use.
Energy UK, representing suppliers, said most firms will accept readings for a few days either side of 1 October. Energy costs have soared because the conflict in Ukraine has reduced supplies of Russian gas.
Prices have also risen because demand for energy has rocketed since Covid restrictions ended. These price increases are now being passed on to customers through an increase to the energy price cap. This sets the highest amount suppliers are allowed to charge domestic households for each unit of energy they use.
These energy units are the kilowatt hours kWh shown on bills. Dual-fuel customers on a standard variable tariff who pay by direct debit will now be charged a maximum average unit price of :. The energy price cap also sets the standing charge for being connected to the grid. This will be 46p per day for electricity and 28p per day for gas, up from 45p and 27p respectively now.
However, most households aren’t typical, and your bill depends on how much energy you actually use. Things like the number of occupants, the type of property and how energy efficient it is all make a difference. The price guarantee applies to all households in England, Scotland and Wales, with the “same level of support” available in Northern Ireland.
Many people on fixed deals will also benefit. However, those on expensive fixed tariffs could still end up paying more than those on standard variable deals.
Business customers weren’t previously covered by the energy cap. Under the government’s energy bill relief scheme :. The scheme will apply to all non-domestic energy customers in England, Scotland and Wales, with a parallel scheme in Northern Ireland.
Customers have been warned not to fall for scams requesting personal details in order to get the reduction. This help is being partly funded by a temporary windfall tax on oil and gas companies. In addition, vulnerable families can claim help through the Household Support Fund , and the Warm Home Discount scheme. Energy companies also run hardship funds, although the regulator Ofgem warned that most firms need to do do more to help customers who are struggling.
Image source, Getty Images. Why should you take a meter reading? Why are prices going up? How much will I pay? Where does the government borrow billions from?
What help will businesses get with bills? What other help can I get with my bills? What can I do if I can’t pay my energy bill? Ofgem: Getting help if you can’t afford your energy bills. Related Topics.
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Find out are energy bills increasing at Citizens Advice about what you can do if ссылка на продолжение account is in debt or in credit when your supplier goes bust Opens in a new window. This will apply to all non-domestic energy customers, including charities and public sector organisations. This is because business billa prices will be capped until then for increading businesses. Managing your money in uncertain times Budgeting, paying bills, finding extra financial support, coping with are energy bills increasing loss.