British Gas is inviting customers to take part in an event today where they can get paid to reduce their electricity usage during peak hours.

Customers will be paid £5 for each kWh they reduce their usage between 4.30pm and 6pm later today, December 1. This is through the group's PeakSave scheme.

The supplier will be contacting its 425,000 customers signed up to the scheme to let them know of the event. Households will be paid an amount however much they save.

The event is part of the wider Demand Flexibility Service run by National Grid, which offers payments to those who reduce their electricity usage during peak hours.

Several suppliers are signed up to the scheme which runs from November to March, with numerous events taking place.

An ESO spokesperson said: "Our forecasts show electricity supply margins are expected to be tighter than normal on Friday evening.

"It does not mean electricity supplies are at risk and people should not be worried. These are precautionary measures to maintain the buffer of spare capacity we need."

A household will need a smart meter capable of sending readings to take part in the event.

An ESO spokesperson said: "Our forecasts show electricity supply margins are expected to be tighter than normal on Friday evening.

"It does not mean electricity supplies are at risk and people should not be worried. These are precautionary measures to maintain the buffer of spare capacity we need."

These suppliers are signed up to take part in the scheme:

• Axle Energy Ltd
• British Gas
• Chameleon Technology (as Ivie)
• Easee UK Ltd (via Axle Energy Ltd)
• EDF
• E.ON Next Energy Ltd
• Equiwatt
• Foxglove Energy Supply Ltd T/A Outfox the Market (via SMS – Solo Energy Ltd)
• GivEnergy Software (via Axle Energy Ltd)
• 100 Green (via SMS – Solo Energy Ltd)
• Good Energy (via SMS – Solo Energy Ltd)
• Hildebrand Technology Ltd
• Hugo Energy App (via SMS - Solo Energy Ltd)
• Loop (via SMS - Solo Energy Ltd)
• Octopus Energy
• Ohme (via Axle Energy Ltd)
• OVO Energy
• Passiv UK (via SMS – Solo Energy Ltd)
• Perse Technology Ltd
• Power Rewards App (via Orange Power Ltd)
• Scottish Power (via Equiwatt)
• SMS (Solo Energy Ltd)
• Shell Energy Retail (via SMS - Solo Energy Ltd)
• Uswitch Ltd (via Hildebrand)
• Utilita Energy Ltd.

Customers will be paid for their energy savings through rewards such as in cash, points, or prizes.

Energy bills are increasing from January when the Ofgem price cap goes up, with average bills going up from £1,834 a year to £1,928 a year.

Figures from Nimblefins revealed that under the new price cap, the cost of using a tumble dryer will increase from between £128 and £227 a year to between £136 to £240 a year.

The cost of using an oven will increas each time from between 14p and 27p to between 14p and 29p. Costs for using a slow cooker, which is cheaper, will go up from 11p per use to 12p per use from January.

For the latest personal finance news, follow us on Twitter at @ExpressMoney_.