Cost of living: Important reason why you need to submit a meter reading next Thursday
As energy bills are set to increase by an average of 54% on Friday April 1st, households are being urged to check and submit an updated gas and electricity meter reading
Millions of households are encouraged to submit a meter reading on March 31, ahead of the new energy price cap.
With energy bills due Increase of 54% on average on Friday April 1stHouseholds are encouraged to take and provide a gas and electricity meter reading the day before.
In this way, you can ensure that all energy consumed up to this date is billed at the cheaper rate – the current energy price cap.
Those not reporting readings risk having some of their energy billed at the new higher unit price, which is around £693 more expensive annually.
Justina Miltienyte, Head of Policy at Uswitch.comtold The Mirror: “Rising energy prices may be a concern for many – but consumers can still take simple steps before April 1 to take control of their energy use.
“Anyone who does not have a smart meter is advised to take a meter reading on March 31st and submit it to their utility.
“This gives your supplier proof of how much energy was used prior to April 1st, when the new tariffs go into effect, and ensures your invoices are accurate.
“You could delay it until later in the afternoon or evening to submit your reading to ensure as much of your energy use as possible is being billed at the old rates from March 31st.
“While there is nothing you can do to reduce actual energy costs, it is a good habit to regularly submit meter readings to your supplier as this can help ensure you only pay for the amount of energy you use. ”
Consumer expert Martin Lewis encourages people to do the same and “set a line” about their use.
It comes after Money champion has turned around after telling pre-pay customers that they could delay the price cap by purchasing energy in advance.
You can submit a meter reading online or via your supplier’s smartphone app. You can also report your last usage over the phone by calling your carrier’s customer service. Some suppliers have automated options for this.
If you have a smart meter, readings are usually delivered automatically once a month – but it’s worth checking if a reading is on or before March 31st.
If for any reason you are having trouble submitting your readings, take photos on the day that clearly show them and the meter serial numbers.
On April 1st, the Cap will increase by around 54%, meaning the average dual-fuel household will pay £1,971 a year to heat and light their home. That’s £693 more than now.
However, this is based on typical usage – so use more and your bills will keep increasing and vice versa.
Households using a prepaid meter, which are typically more vulnerable, will on average face a steeper rise of £708 and an annual bill of £2,017.
To put this in perspective, British Gas capped tariff customers will be paying 28p to 30p per kWh for electricity from 1 April.
There is a daily base charge of 45-51p for electricity and 27-37p for gas.
The supplier will almost join all energy giants to increase its tariffs by a full £693.
From April 1, a British Gas dual-fuel customer paying by direct debit will pay £262 a year in subscription fees alone, or £318 if they have a prepaid meter. And that’s before they’ve used a single unit.
Those who pay by direct debit pay the least. Customers who pay cash or check after receiving their bill or because they have a prepaid meter will be charged more.
Only those with long-term fixed rates contracted with a non-failing supplier will avoid the increases. But of course, millions of them are likely to end in the coming months.
This could only be the beginning. Wholesale gas prices rose 28% on Thursday after news that Russian forces had invaded Ukraine.
If these continue, Ofgem will have to raise prices significantly again when it reviews the autumn cap.
https://www.mirror.co.uk/money/cost-living-important-reason-you-26554480 Cost of living: Important reason why you need to submit a meter reading next Thursday