Energy experts urge bill payers to do this one thing on March 31st to avoid overpaying

The energy experts at Go.Compare are urging households to take a meter reading on 31 March, or risk paying more than they need to on their energy bills.  

From 1 April 2026, the average annual gas and electricity bill will drop 6.6% from £1,758 to £1,641 for a typical household, but without an accurate meter reading, energy suppliers may estimate usage – meaning some customers could still be charged at the higher rate. 

Gareth Kloet, energy expert at Go.Compare, said: 

“Taking a meter reading on 31 March is one of the simplest ways to make sure you don’t overpay for your energy bills and ensures that you’re charged at the new, lower rate as soon as it kicks in.” 

The new price cap, which is set by Ofgem on a quarterly basis, marks the lowest energy prices have been since September 2024*, which is good news for households – but Gareth is warning that we don’t know how long these savings will last. 

“The cost of our energy bills is made up of a number of factors, but wholesale costs remain the largest influence. This April 1st price cap is lower because we have been benefitting from lower wholesale energy prices until now, which have been a third lower this year. But the crisis in the Middle East has caused a huge amount of volatility in the market, and if this is sustained throughout the spring, we may be in for an increase in July when the next price cap is announced. 

“With this unpredictability overshadowing the market, now’s a smart time to check your tariff and make sure you’re on a deal that works for you - whether you decide to fix your rate or stay flexible. Just make sure you check the terms carefully when considering your options, including any exit fees that you may need to pay before switching.” 

The price cap is reviewed quarterly by Ofgem, the energy regulator, and sets a limit on the unit rates and standing charges that energy suppliers can charge for standard variable tariffs. 

Gareth adds, “The important thing to remember is that every household’s usage profile is different, so what works for one home may not suit another. Take a look at your current energy contract - the standing charges, unit rates and any early-exit fees. Then take this information and shop around for a deal that works for you and your energy needs, using a comparison website. 

“As always, if you’re finding it difficult to manage your energy bills, get in touch with your supplier sooner rather than later. Providers are required to support customers in financial difficulty and can help you set up a payment plan.” 

To learn more about the energy price cap, visit: https://www.gocompare.com/gas-and-electricity/guide/energy-price-cap/.   

And for more information on how to switch energy providers, Go.Compare has put together a guide which you can find here.  

For a comprehensive list of energy savings tips, visit: https://www.gocompare.com/gas-and-electricity/guide/energy-saving-tips/.