UK consumers have already borrowed almost £5bn to keep the lights on this year as a fifth of the population turns to credit to cover the cost of rising gas and electricity.

A fifth of bill payers are using credit cards and overdrafts, with some even taking out personal loans to manage mounting costs, a study by financial platform Credit Karma has found.

On average, gas and electricity bills have risen by 23 per cent since the beginning of 2021. At the same time, a third of UK households have lost income in the last year.

Our money editor, Katy Hughes, has the full report below:

Octopus Energy has warned its customers of long waits on phone lines as customers rush to submit their energy meter readings.

The energy provider made the announcements on its website and urged customers to submit their readings on Saturday.

“The best day to give us a meter reading is this Saturday (our standard variable prices don’t change until 00:00 Saturday 2nd April.) Make a note of your readings or take a photo of them on Saturday. When we receive this reading we will apply it to your account from 00:00 midnight on the Saturday. You will have a week to submit them to us, so please don’t worry if you can’t get it to us that day,” the statement read.

Similar to Martin Lewis, Octopus Energy insisted that smart meter and fixed tariff customers do not need to submit a reading.

Many Britons are stepping into April with trepidation, as the cost of living crisis is set to worsen with a number of changes that will mean higher bills and prices.

With inflation already at its highest rate since March 1992, customers have seen the price of nearly everything increase – from food to clothing to furniture.

But some of the most significant increases will be put in place from Friday 1 April, as the energy price cap goes up and changes to national insurance and VAT come into effect.

Our reporter, Kate Ng, has the full list below:

The cost of living is going up and households are expected to see energy bills increase by an estimated 54 per cent on Friday, 1 April.

It’s not just energy prices which will rise to the highest costs in living memory, but the price of everyday items is set to rise too as well as other bills such as internet and council tax.

Earlier this month, the government urged households to get ready for the £150 council tax rebate which they could claim by setting up a direct debit with their local council.

Our reporter, Laura Hampson, has the full explainer below:

Money saving expert, Martin Lewis, has posted a tweet clarifying the customers who should submit their energy price hike reading before the cap increases on Friday.

“To reiterate again you DON’T need to give a meter reading today if you’re on a fixed deal, or are in Northern Ireland, or anyone else who’s tariff is not on the price cap,” Mr Lewis wrote on Twitter.

“And again if on smart/prepay just take pic of your meter, no need to submit.”

The cost of living crisis is set to intensify from 1 April, when households will witness the biggest rise in the cost of energy in living memory.

Bills are set to increase by a whopping 54 per cent, or almost £700, to just under £2,000 a year. National Insurance contributions are set to rise by 1.25 percent, while inflation and water bills are expected to soar.

The profound spike in living costs means that half of UK children will have to sacrifice essentials such as food and clothing, according to new research.

Our reporter, Joanna Whitehead, has outlined everything customers should do before price surges on 1 April:

Energy firm E.ON has appeared to blame money saving expert Martin Lewis after suppliers’ websites crashed ahead of Friday’s price hikes, Zoe Tidman reports.

E.ON, British Gas and EDF were among the sites struggling to deal with demand this morning.

The tweet, potentially tongue in cheek, was posted as customers raised questions about meter readings.

The E.ON profile said: “Unfortunately the website and phone lines of every supplier are being hammered today.

“Martin has once again created unprecedented demand bringing down Britain. If you respond to our private message providing the details requested then we can assist you.”

Read the full story below:

British Gas, EDF Energy and other energy companies’ online services have stopped working properly on the final day for customers to submit meter readings.

Websites said they were unable to accept meter readings through their websites or apps, as a result of technical problems. Pages on the British Gas website loaded but it would refuse to accept readings, while EDF’s website said it was down for “essential maintenance work” and that it would be “up and running again soon”.

Read the full story below:

Good afternoon and welcome to The Independent’s live blog covering the energy bills hike. Follow our coverage for the latest news on the cost of living crisis.