An estimated 10 million households paying for their energy usage by Direct Debit could end up paying an inflated bill next month, despite the price cap dropping by 12.3 per cent from Easter Monday. The only way to ensure energy bills are accurate is to submit a meter reading before the new Price cap starts, which means doing it before midnight on Sunday, March 31.
The average household energy bill is to fall to its lowest point in two years from April 1 after Ofgem lowered its price cap in response to wholesale prices. The current price cap will drop from £1,928 for a typical-usage dual fuel household to £1,690, a drop of £238 over the course of a year or around £20 a month.
Comparison website Go.Compare warned that the difference between a week's worth of energy at the old rates compared with a week in April will be around £5 for the average household. Gareth also suggested it might be a good time to start looking at fixed tariffs, or asking your energy firm for a refund if you’re sitting with a fair bit of unspent cash in your energy account.
“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.