Reminder for Households to Submit Energy Meter Readings to Prevent Excessive Charges
Those without a smart meter are advised to submit their meter readings by Monday to ensure future usage is charged at the new lower rate.
Close to 11 million households have received a reminder to provide their energy meter readings promptly to avoid any overcharging.
Following the reduction in energy prices by Ofgem as they lowered their price cap on Monday, individuals without a smart meter risk having some of their new usage charged at old rates if they fail to submit their readings by Monday, according to price comparison website Uswitch.com.
Ben Gallizzi, an energy expert at Uswitch.com, recommended, “Customers without a smart meter should make it a priority to submit their readings before or on Monday 1 July to ensure their accounts are updated accurately. This coincides with the implementation of the new energy price cap, and delaying the submission could lead to estimated billing at higher June rates. Establishing this habit monthly will ensure billing accuracy.”
Uswitch’s analysis indicates that the average household’s energy bill is expected to drop to £83 in July from £127 in June, due to both lower rates and decreased usage.
The website also stated that the average difference in a week’s worth of energy is £2.78 per household, amounting to a total of £30 million if nearly 11 million homes delay submitting their readings.
Mr. Gallizzi also advised households to explore different energy providers now to preempt a projected price hike in October.
Ofgem revises the headline “price cap” every three months based on the cap on suppliers’ energy unit charges and a typical household’s annual energy usage.
As of July 1, the cap has been reduced by £122, from £1,690 to £1,568. Although significantly lower than the peak of £4,279 in the previous year’s first quarter, it remains 23% higher than the winter 2021 levels when energy prices surged.
Experts anticipate a new increase in the price cap by approximately £150 come October.
EDF energy predicted the cap could reach £1,712 on Oct. 1, while Cornwall Insight forecasted around £1,723, representing a downward adjustment from their earlier forecast.
Craig Lowrey, principal consultant at Cornwall Insight, cautioned any future government to approach potential changes cautiously.
He stressed the importance of transparency regarding long-term investments in low-carbon energy and encouraged discussions on various reforms, including social tariffs, to aid in reducing bills in the months and years to come.
