Energy bill warning: Britons have 'only two weeks left' to act before Ofgem price cap hike

A "perfect storm" is bearing down on millions of UK households, with Ofgem's energy price cap set to climb four per cent on 1 October 1.

Price comparison service Uswitch notes this is the same typical home fires up its heating for the first time, according to data from the energy regulator.

The energy price cap, which governs the maximum unit rates charged to customers on standard variable tariffs, will increase from £1,663 to £1,723 annually for an average household.

Uswitch's analysis of 128,104 homes with gas smart meters linked to its app found that October 1 is precisely when average heating demand begins to rise.

The result is that those on default tariffs will be hit with steeper rates at the exact moment their energy consumption starts to escalate ahead of winter.

A stark north-south divide exists in when British homes reach for the thermostat, with a full 28 days separating the earliest and latest areas to switch on their heating.

Scottish towns lead the way, with Motherwell in North Lanarkshire and Falkirk in Stirlingshire among the first places in the country where residents begin heating their homes, typically around September.

Some eight out of the ten earliest locations to fire up their boilers are north of Hadrian's Wall, Uswitch's analysis shows.

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Wholesale gas prices have surged by nearly a third in just one month, reaching their highest point since November 2022.

Forecasters now expect the January price cap to soar to £2,152, which is roughly 25 per cent above the October-to-December level.

However, households willing to act swiftly can sidestep both increases by locking in a fixed-rate deal now.

With just a fortnight remaining before the new cap takes effect, Uswitch.com is pressing those on standard tariffs to compare the market and secure a cheaper fixed deal without delay.

Ben Gallizzi, energy expert at Uswitch.com, said: "It's terrible timing, but energy costs are going up for millions of households on the exact day many reach for the heating."

He stressed the narrow window available to consumers: "If you're on a standard tariff, you have only two weeks to avoid higher energy prices from October 1.

"There are currently fixed deals available that are cheaper than October's price cap, so act now to save yourself money."

"With predictions for January also suggesting a staggering 25 per cent increase, comparing energy deals to find a cheaper option should be a priority for those wanting to avoid the hikes. The price cap is going up, but your bills don't have to."