Some 10 million households are being urged to send energy meter readings to their supplier this weekend to ensure they do not overpay when cheaper prices come into effect on July 1.
Those who do not submit readings risk having some of their usage after that date charged at the previous, more expensive rates. The latest fall offers further relief to households given the previous quarter-on-quarter drop seen in April, but analysts have said they expect Ofgem to increase the price cap in October, before dropping it again in January 2025.
Uswitch also urged households to investigate other tariffs, including fixed deals, to beat the predicted October price hikes. Ofgem has said it is minded to remove the ban on acquisition-only tariffs, which have been used by firms to attract new customers or lure switchers from rival firms, from October 1.
Rocio Concha, Which? director of policy and advocacy, said: “Our research has shown that consumers overwhelmingly believe cheaper energy deals only available to new customers are unfair – even when they might stand to benefit.
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