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Ofgem Lifts Energy Price Cap to £1,755 on Wednesday as Experts Urge Meter Readings

Below-cap fixed tariffs exist, with switching times that may delay savings.

Overview

  • The energy regulator’s cap for a typical dual-fuel household rises by 2% to £1,755 on October 1, an increase of about £35 a year.
  • Consumers without working smart meters are being advised to submit meter readings on or around October 1 to avoid estimated billing at the higher rate, with dated photos recommended as proof.
  • Households with smart meters that are operating in smart mode do not need to act because readings are sent automatically to suppliers.
  • Brokers highlight fixed deals below the new cap, including offers near £1,540, with potential annual savings of roughly £150–£215, but switches typically take up to five working days and may not complete before the reset.
  • Uswitch is promoting 25 hours of free electricity in November for users who connect a compatible smart meter via its app by October 31, and Ofgem’s next cap update is due in November.