Did You Miss Another Key Date for Energy Customers

The 1st of October was a significant date for millions of UK households, as many take action to save money by submitting energy readings. It’s one of the four key dates each year when energy prices change, and unfortunately, this time prices have risen.

From 1st October, energy prices have increased by 10%, adding an average of ￡149 to household bills. Those without a smart meter are strongly advised to submit their energy readings to ensure they aren’t overcharged. This won’t be the last expected increase.

Currently, 27 million out of 29 million UK households are on a standard variable tariff (SVT), meaning their tariff adjusts in line with the price cap—this month bringing a notable increase.

The next key date for readings is 1st January. As soon as one price cap is announced, speculation about the next begins. This October is no different. The market is torn between predicting a slight rise or fall, but no major changes are expected. While prices are projected to slowly decline throughout 2025, the UK’s transition to home-grown green energy isn’t advancing quickly enough to reduce bills in the short term. As a result, the UK remains vulnerable to fluctuations in global energy prices.

This latest price increase will also impact inflation, with a 10% rise likely to affect rates. However, there are current deals available that allow consumers to fix their energy costs below the current price cap—mitigating the risk of further increases and offering potential savings based on future projections.

Now is an opportune time for consumers to consider switching. At Youtility, we help businesses integrate switching into their services, giving their customers a chance to save money while providing more certainty. Our platform fosters stronger customer relationships, creating opportunities for both cost savings and revenue growth.