Money latest: How to get cheapest energy bills after price cap tweak most people don't know about

The default tariff for prepayment meters is now cheaper than other types of meter.It follows the energy price cap update to unit rates and standing charges from 1 April.Uswitch data shows 56% of households don't know about the change.What do you need to know?Prepayment meters have traditionally been a more expensive way of paying for energy - but now prepayment standing charges have been lowered to match those for direct debit customers.

How many people have prepay meters?The number of prepayment meters has fallen almost 8% from the peak in 2019, but there's still more than seven million gas and electricity units in action.In total, 195,503 prepayment meters were installed in 2023.Are people swapping?Uswitch has some research that says young people are far more likely to go for prepay meters - 51% would consider it, compared with 5% of over-55s.

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Money Expert Criticizes Smart Meter Rollout in the UKMoney expert Martin Lewis expresses dissatisfaction with the cost and timeline of smart meter installation in homes and businesses. Many smart meters fail to accurately display energy usage and costs. Despite individual users not being significantly impacted, the overall implementation has faced delays and increased expenses.
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Martin Lewis on exact time for energy meter readings before new April price capThe consumer champion also shares a nifty money-saving trick for people using a prepayment meter.
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