British Gas has issued a warning to ALL of its customers urging them to act now.
The gas and electricity giant has told its millions of customers that prices will be going up from October 1 by an average of £149.
That’s not just for British Gas customers of course but affects all energy customers not currently on a fix after Ofgem announced a price rise, but British Gas has sent a message to its customers specifically urging them to take action.
The firm said that ‘now could be a good time’ to act and change to a fixed energy tariff.
Cheap fixes have been largely absent from the market for much of the past two years, since the Cost of Living crisis and Russia’s invasion of Ukraine sent energy prices spiralling upwards.
But recently some cheaper energy fixes have begun to return to the market – and British Gas is suggesting that customers should consider locking in a fix now if they aren’t already on one, or are due to leave theirs before October 1 when prices change.
British Gas said: “Ofgem will increase the energy price cap by £149 in October.1
“We’ll keep this page updated, so you know what this means for you if you’re on a variable tariff.
“With prices set to increase this winter, now could be a good time to choose a fixed tariff.
“On 23 August, Ofgem announced that energy unit prices and standing charges will increase from 1st October. If you’re on a variable tariff, this means you’ll pay more for your energy.
“The energy market has been more stable recently, but surprises can happen. Global politics play a big role in energy prices. For example, if conflicts in Ukraine, the Middle East, or Taiwan worsen, wholesale gas prices could go up. This would eventually mean higher bills.”
The advice is mirrored by money maestro Martin Lewis, who told customers of every firm that they should consider fixing now to save the £149 increase that’s coming in October.
From October 1, customers will pay 24.5p per KwH of electricity, up 9.6 percent from 22.3p, and 6.2p per KwH of gas, up from 5.48p by 14 percent.
Standing charges also increased by 1.4 and 0.8 percent on electricity and gas respectively, meaning the average household will pay £1,717 per year for typical use, up from £1,568.
