MARTIN Lewis has warned you must take an energy meter reading now ahead of a crucial change which could save you £100s.To ensure users are making the most of it, the financial whizz is urging households to take their meter readings before the price cap hits after the Easter weekend."If not, try to give an up-to-date meter reading within a few days either side of the rate change to reduce the risk your supplier estimates you've used more at the current higher rate than you have.
The cap was introduced with the aim of preventing the millions of households then on expensive tariffs from being ripped off.The price cap is currently £1,928, the lowest figure since March 2022. Bear in mind, the £1,690 figure is calculated based on what Ofgem thinks an average household will use. However, the daily standing charge for electricity will go from 53.35p to 60.10p while for gas it will go from 29.60p to 31.43p.How do I calculate my energy bill?The unit rate will usually be shown on your bill in p/kWh.The standing charge is a daily charge that is paid 365 days of the year - irrespective of whether or not you use any gas or electricity.Once you have these details, you can work out your gas and electricity costs separately.