Yahoo News Energy bills: How to give a meter reading as Ofgem price cap falls
The new price cap is £238 lower than the previous one set between 1 January to 31 March this year.
Household energy bills are set to fall to their lowest point in two years after Ofgem lowered its price cap in response to wholesale prices.
The price cap for a typical dual fuel household in England, Scotland and Wales will be reduced by 12.3% from 1 April to 30 June. This means that the current price of £1,928 will be reduced to £1,690, resulting in a £238 drop over the course of a year or approximately £20 per month.
The average household on a standard variable tariff (SVT) is expected to spend £127 on energy in April, compared with £205 in March, due to a combination of cheaper rates and lower usage as the weather warms up.
In January, the cap rose by 5% from £1,834 for a typical dual fuel household to £1,928. The increase was being driven mostly by increasing costs in the international wholesale energy market because of market instability and global events, particularly the conflict in Ukraine.
Households are being urged to submit meter readings to their suppliers before 1 April to ensure they only pay what they should. Logging a meter reading will prevent suppliers from determining bill prices that aren't accurate to your usage and is also essential if you are disputing a bill.
If the reading is lower than your provider's estimate, you can ask them to lower your monthly direct debit to a more suitable amount.
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How to give a meter reading
When you give a meter reading, your supplier can accurately calculate your usage and charge you fairly based on the current prices. However, if everyone tries to submit their readings on the same day, it can cause the supplier's website to crash or phone lines to become congested.
To ensure this doesn’t happen, Money Savings Expert advises you to submit your reading a few days either side of the due date as any difference in charges should be small. Some suppliers will let you backdate your reading, meaning a reading can be taken between 1 January and 31 March and submitted later.
The simplest way to record your meter reading is by taking a picture to capture the details and logging in to your online account or entering the information using a web form on your supplier's website. Most suppliers will also allow you to send readings through text messages or WhatsApp (and similar mobile apps). Alternatively, you can call them and enter the readings on automated phone lines.
Essential bills spike
Households are about to see a host of essential bills rise steeply as firms roll out their annual 1 April price increases.
Council tax, road tax, broadband, mobile, water and even stamps are all about to jump in price on or around the first of the month, with households urged to check for savings by shopping around and investigating if they are entitled to any discounts.
The average annual council tax bill will rise by £106 this year as local authorities seek to maximise revenue to pay for struggling frontline services.
The bill for an average Band D property will increase by 5% to £2,171, according to statistics released by the Department for Levelling Up, Housing and Communities.
Council taxes are rising by various amounts in Wales, from around 5% in Torfaen to more than 11% in Pembrokeshire, but the SNP has promised to freeze council tax across Scotland until 2025.
The average household water and sewerage bill in England and Wales will rise by 6% or about £27 to £473 a year from 1 April.
