Simple job to slash bill to take now as Energy Price Cap to rise on October 1

Simple job to slash bill to take now as Energy Price Cap to rise on October 1 Energy bills will rise to the highest level in 3 years after Ofgem announced its latest price cap. Millions of UK households may want to take one key step now to cut bills before changes kick in on October 1. Energy regulator Ofgem confirmed the energy price cap will rise by 4% for the period from October 1 to December 31 2026. The regulator explains that the "increase reflects higher wholesale gas prices as a result of the ongoing conflict in the Middle East, with volatile global gas markets remaining the dominant driver of price changes." Ofgem - the Office of Gas and Electricity Markets - is the independent energy regulator for Great Britain. It further explains: "The energy price cap protects around 22 million households on default tariffs by limiting the maximum rates and standing charges that energy suppliers can charge. It is updated every three months to reflect changes in the underlying costs of supplying energy." Ofgem notes that the current price cap for a typical household paying by direct debit for gas and electricity is £1,663. Based on the energy use of a typical domestic household, from October, the price cap will rise by £60 per year - or £5 per month - to £1,723 for the average household using both electricity and gas, if this level were sustained for a year. Simple task that may slash your bill In helpful advice from the Energy Saving Trust's Warm Home Hacks, it urges people to get their boiler checked asap and not to wait. In its general advice, and not specifically talking about the upcoming rise, it notes that looking after your heating system helps it run efficiently, so you waste less energy and keep your home warm for less. Stressing that a quick health check now can help it work better for you this winter, it urges: "Look after your boiler, and it will look after you. Get your boiler routinely serviced, usually once a year. "It costs around £90 and it’s money well spent. If a boiler isn’t maintained, it can become less efficient, and a build-up of sludge can make it harder for the boiler to heat the whole house. If you rent, remember it’s the landlord’s responsibility to arrange an annual gas safety check for all gas appliances, including the boiler, by a gas safe engineer. "If you’re worried that your boiler isn’t working as it should, or that it could benefit from a service, contact your landlord." Andy Burnham's £45 VAT announcement In July, PM Andy Burham announced the removal of VAT from domestic electricity bills to save average households £45 a year. Ofgem this week said: "Without the Government's intervention on VAT, this figure would have been around £45 higher. The VAT removal also benefits customers currently on fixed tariffs, with the discount automatically applied by suppliers." Ofgem’s Director General for Markets, said: "High international gas prices are continuing to drive energy costs in the UK. We welcome the Government’s intervention to remove VAT from electricity bills, without which customers would have faced even higher costs this winter. “Savings are available by choosing a fixed tariff, which are available at £100 or more below the October price cap, and many suppliers offer tariffs with cheaper electricity to smart meter customers for electricity consumed out of peak times. It's also worth considering different payment methods, with prepayment customers paying the lowest price cap rates, and could save consumers an average of about £45 compared to direct debit.” Ofgem says anyone struggling to keep up with energy bills should contact their supplier as soon as possible. Suppliers are expected to help customers set up affordable repayment plans, prevent debts from worsening, and signpost financial support and advice.