Energy customers urged to take meter readings as price cap rises
The energy price cap has increased to £1,717 for households after a 10% hike in prices on 1 October.
Around 10 million households have been warned that they risk overpaying for their energy if they do not send meter readings to their supplier as a 10% price rise takes effect
Experts including Martin Lewis have urged households to submit their readings to their energy firm to avoid being overcharged.
Energy prices increase by £149 from 1 October as Ofgem increases its price cap from £1,568 for a typical dual fuel household in England, Scotland and Wales to £1,717.
If meter readings are not sent, energy used at the old, cheaper rate could be billed at the new, higher rate - leading to some people overpaying unnecessarily.
Speaking on Good Morning Britain (GMB), Money Saving Expert founder Martin Lewis said: “If you don’t do a meter reading, they’re assuming how much of usage was on the cheap price, how much usage was on the expensive price, so they could assume more of it is on the expensive price than it was.
“Do a meter reading, you draw a line and you’re going to get the correct amount billed to you, not too much at the higher level.”
There’s a way to STOP next week’s 10% energy Price Cap rise!
I show you how in this video briefing (courtesy of @GMB), then use the MSE cheap energy club to find the right deal for you.
Feel free to share pic.twitter.com/wh9zxwPSpz— Martin Lewis (@MartinSLewis) September 26, 2024
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 Saving 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.
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.
Energy prices 'could rise again in January'
October’s price cap is lower than during the peak of the energy crisis between October 2022 and June 2023, when the Energy Price Guarantee reached a peak of £2,380.
However, experts think there could be another rise in January, with more rises possible early in the new year due to escalating tensions in the Russia-Ukraine war.
Ofgem chief executive Jonathan Brearley urged consumers to “shop around” and consider a fixed-rate tariff that could save money, adding that the regulator is working with government, suppliers, charities and consumer groups to do “everything we can” to support customers.
Citizens Advice has voiced concerns about households with children and young people and those on lower incomes, who were most likely to struggle with their heating costs.
Comparison site Uswitch.com calculated that the average household on a SVT is expected to spend £135 on energy in October compared with £55 in September due to a combination of higher rates and increased usage at the start of autumn.