E.on, Octopus, British Gas customers told to do this now amid £194 warning

Energy customers from some of Britain's largest suppliers are being warned to cut their costs now. It comes as some industry experts predict the energy price cap to rise from £1,568 to £1,762 in October.

This would result in a £194 annual increase for the average dual-fuel household just in time for winter. While it means many customers on a variable tariff could be paying much more on their bills in just a handful of months, depending on their usage, there are ways they can start saving now.

Experts at comparison site Bionic have provided some of their top tips for customers to slash their bills ahead of the predicted increase. They have also provided their latest advice to help customers decide whether they should fix their bills or not for more price security.

If you're not already on a fixed deal then you're likely on a variable rate that follows the energy price cap. The price cap itself is not a total limit on how much you pay - instead it caps standing charges as well as gas and electricity rates.

Those on a variable price cap generally see their prices change every three months. While a fixed deal can provide some price security by keeping the same costs over a longer period, it's worth seeing if it will actually save you money in the long-run.

Money-saving expert Martin Lewis' general advice is to find a fixed deal that's 8 per cent more than the current price cap. This is because, based on current predictions and offers on the market, you could save over the year.

Les Roberts, a business energy comparison expert at Bionic, said: “When it comes to making the switch to a fixed energy tariff, the most important thing to understand is that price-capped tariffs are variable, and the prices change every three months