Lewis advises how to avoid overpaying for energy by taking important action in the next six days.

Hey there, everyone! I'm sure you've all heard the news by now, but in case you haven't, brace yourselves for some not-so-great news. Energy prices are on the rise again, and this time it's happening on October 1. The Energy Price Cap is increasing by a whopping 10%, which means that starting next month, the unit rate for electricity will be 24.50p per kilowatt-hour, with a standing charge of 60.99p per day. And for gas, it's 6.24kWh with a standing charge of 31.66p per day. Ouch.

This rise in energy prices will affect a staggering 28.4 million households, adding an extra £149 to their annual bills. And get this - it's not just a one-time thing. The Energy Price Cap is reviewed every three months, so this increase will be in effect from October 1 to December 31. But here's the thing, if you have a smart meter at home, you're in luck! You don't need to do a thing as it will accurately give readings to your supplier starting October 1.

But for the other 48 million of us in the UK, Martin Lewis and the team at moneysavingexpert.com have some important advice. They're warning us that there's a crucial step we need to take to avoid being overcharged after the price cap rises. So, what's the deal? Well, it's recommended that we give an up-to-date meter reading to our energy company in the next few days. This will help reduce the risk of your supplier estimating that you've used more energy at the new higher rate than you actually have.

But here's the catch - we need to be strategic about when we do this. If millions of us all rush to submit our meter readings at the same time, it could cause some serious problems. Supplier websites might crash and phone lines could get jammed, which could be especially tough for those who are more vulnerable and in need of assistance. To avoid this chaos, we have two options. We can either submit our readings within the next six days before October 1, or take note of our reading and submit it after the price cap rise. Some companies allow you to backdate your reading, so that's definitely something to keep in mind.

According to Martin, if we submit our readings within this time frame, any discrepancies with our energy charges should be minor. So, that's good news at least. But let's talk about how we can actually lower our energy bills. I know, I know, it's easier said than done. But hear me out. The price cap increase is definitely not ideal, especially for those who are already struggling with the high cost of living. And sure, cutting down on energy use can help save money on bills, but it's not always possible. So, what can we do? Well, according to Amy Knight, personal finance expert at the financial comparison website NerdWallet UK, we should focus on getting more value from the money we spend on heating our homes.

So, here are Amy's top tips to keep those fuel bills low this winter. First of all, think carefully before you switch energy providers. I know those discounted rates for new customers can be tempting, but make sure you take note of when the introductory period ends. This will help you avoid a nasty shock when your bill suddenly jumps up again. And if you're already on a fixed deal that's more expensive than the price cap, it might be worth looking into switching to a cheaper variable tariff or a cheaper fixed deal. Of course, if you do decide to leave your current deal, make sure you check if there are any penalty fees involved.

Next up, let's talk about direct debits. If you're overpaying into your energy bill (which, let's be honest, many of us are), you can ask for a refund of most of the balance and adjust your direct debit to be lower. Just remember that it's normal to be in credit this time of year because most households use less energy in the summer compared to the winter when we have the heating on.

Moving on, let's discuss how hot you need your water to be. Heating water uses up a lot of energy, so if you can, turn down the flow temperature of your boiler to save a little on your bills. As long as the water from your hot tap is comfortable enough to have a bath in, you don't need to set it any hotter. You can do this manually or ask a heating engineer to fit a 'weather compensator' device.

And last but not least, a little reminder about where warm air comes from. Keep those radiators uncovered to make sure you get the most out of them when they're on. And if you have long curtains covering your radiators, make sure to leave them open so that the warm air circulates into the room instead of escaping out of the window.

Oh, and one more thing - when shopping for new appliances, check the efficiency ratings. If you can afford it, go for A or B-rated white goods as they can help lower your energy usage in the long run. And now, let's talk about the when and how of submitting a meter reading. Customers with British Gas, EDF Energy, E.on Next, Octopus Energy, Ovo Energy, Scottish Power, So Energy, or Utility Warehouse can submit meter readings via their online account, the company app, or over the phone. Some companies even let you send your readings via text or WhatsApp, but make sure to check with your energy provider first.

And here's a pro tip - always take a photo of your meter when submitting readings. This way, you have the info handy and proof of the exact day and time you took the reading. For British Gas, you can backdate your readings until October 14, but for EDF Energy, the cutoff date is October 9. E.on Next and Octopus customers have until October 8 to backdate their readings, while Ovo Energy users have until October 8. And for Scottish Power, the deadline is October 5. As for So Energy customers, you can backdate your readings, but only if you have proof of the day you took the reading. And finally, those with Utility Warehouse are encouraged not to backdate readings and instead submit them in the next few days leading up to October 1.

Phew, that was a lot of information. But hey, we're all in this together, right? And if you have a story to share about your experience with energy prices or tips on how to save money on your bills, don't hesitate to get in touch by emailing us. We'd love to hear from you!

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