From 1 October 2015, millions of households will see their energy bills rise again as the price cap increases by 2%, taking the average annual bill from £1,720 to £1,755.
Experts are warning families to act fast by submitting meter readings before the rise kicks in to avoid paying over the odds.
The warning comes as new research shows one in six households say they simply cannot afford further hikes.
Urgent action needed today
Go.Compare’s energy spokesperson, Gareth Kloet, said households should not delay.
“Whether you take manual meter readings or have a smart meter, it’s vital to take a meter reading as close as possible to when the price cap comes into effect and send it to your provider,” he urged.
“This ensures that all the energy you’ve used up until 1 October is charged at the lower rate – not tomorrow’s higher one.”
Kloet also warned that even small changes at home could make a big difference, urging families to cut down on unnecessary energy use now. “Batch cooking, sealing draughts, and only boiling what you need in the kettle might sound small, but these habits add up – both for your wallet and the environment.”
Millions under financial strain
The comparison site’s survey of more than 2,000 people lays bare the pressure on households:
- 16% say they cannot afford any more price rises at all
- 29% admit they are worried about energy bills
- 10% believe they are not getting the best deal from their current provider
Despite more tariffs appearing on the market, too many households are missing out on potential savings. One in five (20%) have never switched provider, while nearly a third (29%) have stayed put for more than three years – even as prices have fluctuated.
Don’t get caught out
Kloet said tomorrow’s rise should be a wake-up call for anyone who hasn’t reviewed their energy tariff. “If you’ve been with the same provider for years, the chances are you’re overpaying,” he warned.
He advised that now is also the moment to consider locking in a fixed-rate deal: “With prices prone to jump in winter, a fixed contract could shield you from future increases – but remember, you’ll be tied in for the length of the deal.”
And for those hesitant to switch, Kloet added: “Even if you don’t want to move provider, use this moment to challenge your current supplier. Knowing what else is out there gives you the power to negotiate – and potentially cut your bills.”
