Take a meter reading to benefit from energy prices falling

As of July 1st, the Ofgem Energy Price cap will fall by £122, from £1,690 to £1,568, a potential 7% saving for customers. The experts at Go.Compare Energy are now reminding people to submit a meter reading before the price of energy falls on July 1st, and make the most of the savings.

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

“With this latest drop in the energy price cap, the average annual energy bill is set to fall by £122, which will be welcome news for billpayers. We haven’t seen prices this low in over two years, and while we are still paying high prices for our energy, the general direction is encouraging.

“Taking a meter reading on June 30th before the price drop comes into force will mean that your energy company cannot charge you at the higher rate for any units you use after that date. Even for those who have a smart meter, it’s a good idea to take meter readings regularly to make sure that your energy usage is being captured accurately and that you are being charged the correct amount for the units you use.

Gareth continues: “Any fall in household costs will no doubt be welcomed by those across the UK but, with the cost-of-living crisis continuing, many may still be looking for ways to decrease their outgoings. While we cannot control the Price Cap, there are things you can do to help save on your energy costs at home. For example, if you aren’t already doing so, then opting to pay for your energy bills through Direct Debit could save you some money, as a number of energy suppliers will give you a discount for paying this way - it also means you don’t have to worry about forgetting to pay a bill. 

“And if you’re thinking of changing your tariff, it’s important to think about if it is the right time to switch for you.  The energy market is still subject to fluctuations, but we are starting to see more and more deals coming to market. Take a look at what tariff you are on and any exit fees that come with it, and then it could be worth looking at a comparison website to see the options that are available to you. 

“Also, if you’re fortunate enough to have a balance in credit with your energy provider, try to keep it in the bank in preparation for the winter months. But if you are struggling to make payments, talk to your energy provider, as they have a duty of care towards 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/