Energy experts warn homeowners to take a meter reading - or they’ll miss out on savings

With the new lower energy price cap coming into effect on July 1st and bringing the average energy bill down by £129*, the experts at Go.Compare energy are saying households will have to take a meter reading on 30th June - or they could end up paying more than they need to.

The energy price cap puts a limit on how much suppliers can charge households for the energy they use - and for the first time in nearly a year, it has decreased. With the new price cap coming into effect on 1st July and being 7% lower than the previous figure, at £1,720, our bills are set to decrease - and it’s important we are taking advantage of the new, lower rates.

Gareth Kloet, Go.Compare energy spokesperson, advises: “Whether you have a smart meter or not, we would advise you to take a meter reading as close as possible to when the new price cap comes into effect, and send it to your energy supplier. This will help make sure that any energy you use from July 1st onwards will be charged at the new, lower rate, and you aren’t paying more than you need to.

“If you are nearing the end of your energy contract, it may also be worthwhile using a comparison site to check whether you’re getting the best deal available. Make sure to check the fine print - the unit prices for each energy type as well as the daily standing charges - as this will help you work out whether you can make a saving."

Gareth also had some advice to homeowners who may still have an old RTS energy meter installed: “We have just received news that the Government is pushing back the switch-off date for old RTS energy meters.** The switch off was originally planned to take place on June 30th 2025, and could have potentially left many homeowners without hot water and heating, as their RTS meters stopped functioning correctly.

“With an estimated 314,000 households still stuck with old RTS meters as of last month,*** it’s good news that they aren’t due to stop working imminently - but if you do have an RTS meter installed, we would still urge you to reach out to your supplier and have it changed as soon as possible for a digital or smart energy meter. Your energy supplier will want to make sure they are recording your energy use accurately so it’s in their best interest to fit the new meter - and doing so could also help you understand your energy usage better.

“Alternatively, if you would prefer not to have a smart meter, this is something you can discuss with your energy supplier - just be aware that there are sometimes cheaper tariffs available to those with smart meters, and without one you would be ineligible.”

While the arrival of the new lower price cap is great news for households, many may still be looking to reduce the cost of their energy bills. For top tips on how to limit your energy usage and save money, visit: https://www.gocompare.com/gas-and-electricity/guide/energy-saving-tips/.

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