Don’t forget to take and submit a meter reading this Friday, 30th June

Go.Compare Energy is advising all bill payers to take a meter reading this week, before the energy price cap is set to drop on July 1^st.

This weekend, the current Ofgem Price Cap will fall from £3,280 to £2,074. This is also the first time that the Price Cap will fall below the Government’s Energy Price Guarantee (EPG), which was introduced in 2022 to cap gas and electricity bills at an average of £2,500.

Gareth Kloet, energy spokesperson for Go.Compare energy, said:

“This drop will come as a very welcome relief for many households who have been struggling to pay their energy bills in the past year. While the EPG has helped to shield bill payers from paying the higher £3,280 Price Cap figure, prices have still been astronomical and a burden for many.

“If you compare energy prices with winter 2021 - when the Price Cap was set at £1,277 – the past 12 months has been a huge struggle for many, so this weekend’s drop is definitely a step in the right direction. However, it’s important that you take a meter reading so that you can make the most of the price drop.

“By taking a meter reading on June 30^th, before the price drop comes into force, it will mean that your energy company cannot charge you at the higher rate for any units that have been used after that date. And in general, it’s worth providing your supplier with regular readings so that they can work out your bills accurately, otherwise they will estimate your usage which means you could be paying more than you need to.

“Once a meter reading has been taken, you can submit it to your supplier over the phone, via email or often there’s an online portal when you can submit this. If for any reason, customers cannot read or submit the readings on the exact date, do it as close to the day as you can but make sure you keep a photo as proof and hold on to this until you know it’s been accepted by your supplier.

“It’s also worth thinking about preparing yourself for the winter months - at the moment, we are benefitting from longer days and warmer temperatures, so most of us will be using less energy. But as well as taking regular meter readings, there are things you can do to prepare yourself financially for the winter. For example, if you can afford to, try to increase your direct debit payments now and catch up on any arrears you may have with your energy provider. Also, if you are in a lucky position and have a balance in credit with your energy provider, try to keep it in the bank for your next bill increase.

“If you are struggling to make payments and are concerned about energy bills, always talk to your energy provider in the first instance and they will discuss payment plans with you.”

Go.Compare has a list of practical things that you can do to save on your energy costs in the home which can be found here: https://www.gocompare.com/gas-and-electricity/guide/energy-saving-tips/.

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