Get shipshape financially as energy bills head upwards

OCTOBER is shaping up to be a significant month for your finances.

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Energy bills are set to increase, but a scheme offering £150 off your electricity costs is also due to reopen, so keep this in mind if you’re finding it tough.

The Winter Fuel Payment phone line will also reopen for those who need to apply - though most people will receive it automatically. October is a hectic month for the self-employed, with the self-assessment tax register deadline looming.

There's also a deadline for submitting your self-assessment tax if you opt to do this by post.

OCTOBER 1 - The Ofgem energy price cap will rise from £1,720 per annum to £1,755 per annum on October 1. These figures represent what the typical dual fuel household paying by direct debit can expect to pay for energy.

This will remain in place until December 31, when the price cap will be revised again. There isn’t actually an overall cap on what you can pay for energy.

Your bill is still calculated based on your gas and electricity usage.

The Ofgem price cap restricts what you can be charged for units of gas and electricity, as well as standing charges, which are fixed daily amounts you pay to be connected to the energy network.