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Ofgem Lifts Energy Price Cap 2% From October 1 as Households Rush to Fix Deals

Switching to under‑cap fixes or claiming supplier reliefs can soften the rise.

Overview

  • From October 1, the price cap for a typical dual‑fuel home paying by Direct Debit increases 2% to £1,755, adding roughly £35 a year or £2.93 a month.
  • Comparison services urge those on standard variable tariffs to lock in fixed deals today, with estimates of up to about £271 in annual savings and current offers ranging roughly £1,429 to £1,643.
  • Advisers say to check exit fees, standing charges and smart‑meter compatibility, and note switching can take up to 21 days, or five working days under the Energy Switch Guarantee.
  • British Gas launches an Energy Support Fund on October 1 offering up to £2,000 for eligible credit and prepay customers, with applications reviewed in 4–6 weeks and credits applied within two weeks of approval.
  • Uswitch is offering 25 hours of free electricity in November for users who connect a smart meter via its app, with five‑hour weekend slots and a signup deadline of October 31.