Nearly 11 million householders could risk forking out too much on their energy bills if they delay submitting a meter reading before Monday, July 1. To fully benefit 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.
However, those on SVTs without a smart meter who fail to submit meter readings on or around 1 July risk having some of their usage estimated and possibly charged under the older, more expensive June rates. Industry analysts suggest energy rates will rise again in October. Rates could stay that way throughout the winter into 2025. A variety of fixed tariffs are currently on offer which could provide year-long financial stability, some even standing at 10% below the anticipated October price cap.
"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.
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