Nearly 11 million households could risk overpaying on their energy bills by a collective £30 million if they delay submitting a meter reading before Monday, July 1, according to research by Uswitch.com. To benefit fully from the new cheaper price cap which comes into effect on July 1, households on standard variable tariffs who don’t have a smart meter should record and submit their meter readings before Monday.
Industry analysts suggest energy rates will rise again in October. Rates could stay that way throughout the winter into 2025. “Customers who don’t have a smart meter should aim to submit their readings before or on Monday 1 July, so their supplier has an updated – and accurate – view of their account. This is when the next energy price cap comes into effect, so if you delay submitting your readings, your energy usage could end up being estimated and therefore charged under the higher June rates. Try making this task a monthly habit for billing accuracy.