Households are being urged to make sure they do not overpay their energy bills.
Customers across the UK are being urged to submit meter readings before the changes come into effect.
An energy expert has urged British Gas, OVO, EDF, Eon and Octopus customers to make sure they take their meter readings on or before October 1.
The energy price cap will change on that date and households will see their energy bills increase by 10 per cent, from £1,568 to £1,717 per year for the average household.
Failure to provide an up-to-date reading could result in energy used at the current, lower rate being charged at the new, higher rate.
This potential overcharging could amount to a collective £186 million for UK households.
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British Gas customers can submit readings until October 14, while EDF allows backdating until October 9
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Ben Gallizzi, energy expert at Uswitch, emphasised the importance of this action saying: “With energy prices rising next week, it’s vital that households submit a meter reading, with a £19 difference between the cost of a week’s energy at September’s prices compared with October.”
While the general deadline is October 1, some energy suppliers have extended submission periods.
British Gas customers can submit readings until October 14, while EDF allows backdating until October 9.
Octopus Energy has set October 8 as their deadline and Scottish Power and OVO have not specified deadlines for meter readings so the sooner the better.
The difference between a week’s energy use at September’s rates compared to October’s is £18.81 for the average household, according to Uswitch.
Homes with smart meters do not need to submit readings, as their devices automatically send data to energy companies.
Similarly, customers on fixed tariffs or with traditional prepayment meters are not required to take action.
For those without smart meters, submitting readings can be done via various methods, including online accounts, mobile apps, phone calls, or web forms, depending on the supplier.
Accurate meter readings are crucial for ensuring households are billed correctly.
Gallizzi warned: “If you delay submitting your readings, some of your September energy usage could end up being estimated and therefore charged under the higher October rates.”
The potential for overcharging is significant. If 10 million households fail to submit readings by October 1 and their energy use is estimated, they could collectively overpay by £186 million for just one week’s worth of energy at the new rates.
Emily Seymour, energy editor at Which?, advised: “You should compare what your monthly [bills] would be on a fixed deal with what you’d expect them to be if you remain with the price-capped variable tariff to see what the best option is for you.”
Experts recommend making meter reading submissions a monthly habit to maintain billing accuracy and avoid unexpected charges.
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With energy prices set to rise, households are advised to consider changing their energy tariff to mitigate the impact of October price hikes.
Fixed tariffs are currently worth exploring, as they offer price certainty for a set period, usually 12 months.
The average household on a standard variable tariff (SVT) is expected to spend £135 on energy in October, compared with £55 in September, Uswitch.com calculated.
Experts recommend using comparison sites to find and compare deals tailored to individual circumstances.
Gallizzi explained that the cheapest year-long fixed deals are currently about seven per cent less than the new October price cap.
However, these deals may not be available for long, emphasising the need for prompt action by consumers.