Exact date you need to take an energy meter reading before October price cap hike

Energy prices are set to soar again in October when the new Ofgem price cap level comes into effect.

Analysts at Cornwall Insight are predicting the October price cap could hit an eye-watering £3,359.

They then suggest a further rise to £3,616 could be on the cards in January 2023, in another blow for struggling households.

The last time the price cap was updated in April, money experts including Martin Lewis recommended that all homes take a meter reading the day before the new price cap came into force.

The idea is that you tell your energy provider exactly how much gas and electricity you used before the price cap increase.

You reduce the risk of being overcharged for energy used before the increase came in.

If you follow 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.

Speaking on his ITV show earlier this year ahead of the energy cap rise in April, Martin Lewis said: “That way you draw a line in the sand that says to your energy firm, I’ve only used this amount at the cheaper rate.

“Do n’t start charging me more on the higher rate and estimating I use some of it afterwards.”

Energy giant E.on sparked a bizarre Twitter row after it blamed Martin Lewis for causing its website to crash by encouraging people to submit meter readings.

What is the price cap
Despite the name, the price cap isn’t actually a cap on how much you pay for gas and electricity.

Instead, it sets the limit on the rates a supplier can charge for each unit of gas and electricity.

This means if you use more energy, you’ll pay more – use less, and you’ll pay less.

The energy regulator Ofgem will confirm how much the October price cap will be on August 26.

Ofgem has just announced that it will now review its price cap four times a year, instead of twice a year.

It will now review the price cap every January, April, July and October.

How to take meter readings
To send a meter reading, record the first five numbers shown from left to right to your energy supplier.

You can do this over the phone, online or through an app.

Digital meters will show five numbers in black and white, followed by one or more red numbers.

The red numbers can be ignored.

Support for rising energy bills
An energy discount worth £400 will be applied to the gas and electricity bills of households across the country from October.

Around 29 million homes across England, Wales and Scotland will receive the new support.

However, there has been concern about whether the £400 will reach some renters who pay all inclusive bills with half a million households at risk of missing the energy rebate this winter.