Urgent energy warning as UK households told to take meter reading within hours
Millions of UK households are being urged to submit their meter readings within hours. About 10 million homes could run the risk of overpaying on their energy bills if they fail to submit a reading.
Residents have just hours left to submit readings as it needs to be done by Tuesday, October 1 - when a 10 per cent price hike takes effect. The average home is currently paying £1,568 a year on energy bills.
This will increase by £149 a year from Tuesday, October 1. The Ofgem price cap will increase to £1,717 or 10 per cent for those on variable-rate energy deals regulated by the price cap.
READ MORE: 'Monster' from Sutton Coldfield jailed for 'life-changing' sex attacks on schoolgirls
Don't miss the biggest and breaking stories by signing up to the BirminghamLive newsletter here.
But households will not be overcharged if they submit readings in adeqaute time, Express reports. Ofgem said: "Between October 1 and December 31, 2024, the energy price cap is set at £1,717 per year for a typical household who uses electricity and gas and pays by Direct Debit.
"This is an increase of 10 per cent compared to the cap set between July 1 and September 30 2024 (£1,568)." Ofgem updates its price cap quarterly, setting the maximum amount that can be charged for energy bills.
These price caps are made up of costs to supply energy on the network, wholesale cost of gas and electricity and VAT. Ofgem said the reasons for its increase are rising prices in the international energy market, heightened political tensions and extreme weather events.
Households who do not have a smart meter installed and who are on a standard variable tariff (SVT) must submit their electricity and gas readings to their supplier to ensure the energy used before this date is not inaccurately billed at higher prices. Supplies will base readings on estimated usage if they do not receive one.
This could mean millions of households in England, Scotland and Wales could be overpaying - with some not paying enough. SVT users who pay their electricity by direct debit are set to pay on average 24.5p per unit, with a standing charge of 60.99p per day.
An average of 6.24p per unit will be for gas with a standing charge of 31.66p per day. Citizens Advice. said: "Call your supplier to give them the readings - or check if you can submit one on their website or app.
"If you can’t get to your meter, your energy supplier might be able to give you extra help to read or move your meter."