Meter readings - time running out to take and submit them

Gas and electricity consumers are advised to take meter readings before energy prices go up tomorrow.

The annual energy bill for a typical household will rise by 27% - from £1,971 to £2,500.

Submitting accurate meter readings now means energy providers won't accidentally charge you at the higher rate for energy you have used during the cheaper period.

It seems most firms will accept readings taken a few days either side of tomorrow.

The war triggered by Russia's invasion of Ukraine has reduced the flow of Russian gas, and soaring energy consumption since COVID restrictions ended has also pushed up prices.

These increases are now being passed on to customers by a raising of the energy price cap.

Though the cap often sounds like a limit to what consumers will pay, it actually sets the maximum amount providers are allowed to charge domestic households for each unit of energy they buy.

Dual-fuel consumers on a standard variable tariff who pay by direct debit will now be charged a maximum of:

• 34p per kWh of electricity (currently 28p)
• 10.3p per kWh of gas (currently 7p)

The price cap also limits the standing charges for being connected to energy networks. These will be 46p per day for electricity and 28p per day for gas, up from the present 45p and 27p.

Yesterday, while being grilled by local radio presenters, Prime Minister Liz Truss caused some confusion in interviews by appearing to say that no one will pay more than £2,500 per year for gas and electricity.

What the PM meant to say, which she did in other encounters, is that a typical household can expect to pay £2,500.

Obviously not all homes are typical, so your final bill will depend on how much energy you consume.

Government figures say a typical detached house will pay £3,330, a semi will pay £2,650, and a purpose-built flat £1,750.