Sorting by


Millions urged to take meter readings as energy price cap falls today

Millions of people are being urged to take meter readings and check their account balance to benefit from the new 12 per cent fall in the energy price cap and avoid being overcharged.

Ten million homes with traditional meters will pay less for energy bills from Monday, with those who pay by direct debit seeing bills cut by £238 a year to £1,690 on average.

The energy regulator Ofgem cut the cap after a drop in wholesale prices.

However, consumers should brace for the rest of their living costs to surge despite easing inflation as water, broadband and council tax are hiked.

Here is everything you need to know about the energy price cap fall, who should take readings, and which of your other bills will see increases.

On average, billpayers are predicted to see energy prices fall by £78, in April, due to less frequent usage and lower rates, according to analysis by

It said households would be overcharged by an average of £4.65 a week if they failed to submit a meter reading and be charged on the new April rate instead of the higher March price.

This is the lowest energy bills have been since March 2022, before energy bills hiked frustrating the cost of living crisis as Russia’s invasion of Ukraine caused an energy drought.

Even though the price cap has fallen from £1,928 to £1,690, the new lower rate is still £552 higher than the £1,138 cap in the summer of 2021.

Those on standard variable tariffs will begin to pay cheaper rates from Monday. You may also check your account credit and request any money be paid back.

Most UK householders are on a standard energy tariff, meaning the price cap set by Ofgem will dictate changes to their bills.

The regulator sets the maximum amount energy suppliers can charge customers for each unit of energy used – although a household could still pay more or less depending on their usage.

These householders without a smart meter should also submit energy readings monthly to ensure they are paying the correct price as per advice from

Billpayers may also check that their energy supplier does not owe them significant credit, although it can be wise to leave some positive balance on your account for when your usage fluctuates, with new figures from Ofgem showing people were owed an average of £252 in 2023.

An Ofgem spokesman said: “While reasonable balances can help people to manage their bills, consumers have the right to request credit back and should discuss their individual circumstances with their supplier.”

Ben Gallizzi, energy spokesman at, said: “We urge any households without a smart meter to submit their meter readings this bank holiday weekend, so their supplier has an updated and accurate view of your account on or around April 1.

“This is when the next energy price cap comes into effect, which will see the rates that households on standard variable tariffs pay for their energy fall for April, May and June.”

The new price cap will remain in place for three months until 30 June before being reevaluated by the independent regulator.

However, analysis from the Energy and Climate Change Intelligence Unit (ECIU) revealed those in poorly insulated homes, would pay an average of £340 more for gas than those on a standard C energy performance certificate (EPC) rating regardless of the new cap.

Council tax, road tax, utility bills, broadband, mobile contracts, and water bills are all set to rise as firms roll out their annual price increases to accommodate inflation.

On Monday, council tax increased, with the majority of local authorities increasing bills by 5 per cent in England, while households in Wales may see costs rise between 5 and 10 per cent.

Road tax will rise in line with the Real Price Index (RPI), the measure of inflation that takes into account a representative sample of goods and services, whilst water and sewerage bills also rose by 6 per cent, equating to around £27, in England and Wales.

The government’s triple lock means state pension will increase by 8.5 per cent to £221.20 a week with pension credit also increasing from £218.15 a week for a single person or £332.95 for a couple.

TV licence fees also increased by £10.50, meaning the annual cost of a TV licence will be £169.50, up from £159.

The child benefit price cap thresholds will change this week for the first time in more than a decade – rising from £50,000 to £60,000 from 6 April.

Source link

Related Articles

Back to top button