Britons warned ‘there is no cap’

Hours before the new energy prices come into force, Friday 30th September has been named ‘meter reading day’

Big Zero Report 2022

Just a few hours before the new price cap comes into effect, energy experts have warned billpayers that “there is no cap”.

Money Saving Expert Founder Martin Lewis said: “There is no £2,500 cap on energy bills. Instead, the new 1st October guarantee, like the old caps, limits daily charge and unit rates. So, use more, pay more. £2,500 is just what someone with average use would pay.

“The reason it is so important not to communicate that there is a £2,500 cap is it risks some people, possibly vulnerable elderly people, thinking they can keep the heat on max all winter and they won’t pay more than a certain amount.”

Martin Lewis has also branded Friday 30th September as ‘meter reading day’, and he has explained the reason.

He said: “On the 1st of October almost all energy prices change. If you pay by direct debit estimate your usage and they also estimate when it’s used.

“So, you don’t want them to assign more of your units to the more expensive. How do you stop that, you submit a meter reading. That way there is no estimate and there is no discrepancy.”

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