Martin Lewis has warned homeowners not to misreport energy values ahead of the price cap hike this week. Ofgem increases its price cap by a staggering 54% this Friday (April 1st)
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Martin Lewis has warned homeowners against giving false energy meter readings before the price cap rises this week.
Ofgem is raising its price cap by a staggering 54% this Friday (April 1st).
For those on a standard plan paying by direct debit, the price cap increases by £693 from £1,277 to £1,971.
Prepaid customers will see a bigger jump as their price cap increases by £708 from £1,309 to £2,017.
The energy price cap isn’t an absolute bill cap, as the name suggests – instead, it sets a limit on the rates a provider can charge for each unit of gas and electricity you use.
As energy bills skyrocket, Martin says he’s been asked if it’s okay to misstate energy bills — and the answer is no.
He said on Twitter: “Many people are asking me Q. Can I put a false inflated meter reading on March 31st – so I can get more on the cheap rate I’m using in April?”
“A. That’s called cheating, I’m afraid.”
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Anyone taking a manual reading could be visited by their energy company to ask about your energy meter.
If they discover your meter is different than what you supplied, you could be faced with an unexpected bill.
How the energy bill crisis is affecting you
Martin has advised households to take an accurate meter reading on March 31 before the price cap rises.
In this way, you can tell your energy supplier exactly how much gas and electricity you have used before the price cap increases.
The idea is that you tell your energy supplier that you want all of your energy consumption to be billed before April 1st at the current rate.
“They draw a line in the sand that tells them all the energy I’ve used up to this point should be billed at the cheap rate,” Martin explained in an article on his MoneySavingExpert website.
“Don’t estimate my consumption, I’ll lock it up so you can’t charge me more than what I actually used as of April 1st.”
It is important that you submit meter readings regularly, otherwise your energy supplier will estimate your consumption and you may be overcharged.
A digital meter will display five numbers in black or white followed by one or more red numbers.
To send a meter reading, you must send the first five digits from left to right (you can ignore red digits) to your energy supplier.
You should be able to do this over the phone, online or through an app.
https://www.mirror.co.uk/money/martin-lewis-warns-homeowners-risk-26589706 Martin Lewis warns homeowners risk committing fraud as energy bills soar