Energy bills are about to be the lowest they’ve been in two years (Picture: Nicholas.T.Ansell/PA Wire)
Cheaper energy bills are on the horizon, but you could find yourself forking out more than you should if you don’t act now.
The average household on a standard variable tariff will save £78 in April due to cheaper energy and warmer weather.
Energy regulator Ofgem dropped its price cap by 12.3% in response to falling wholesale prices.
This is taking energy bills to their lowest point in two years, since the lifting of Covid restrictions and Russia’s invasion of Ukraine sent gas prices soaring.
A typical dual fuel household in England, Scotland and Wales currently has a cap of £1,928 per year on energy bills.
This is coming down to £1,690, a drop of £238 a year, or roughly £20 per month.
But one easy-to-forget task could change when you get these savings.
It might seem simple, but taking a meter reading often falls down the back of the sofa that is our memory.
Usually that doesn’t matter when tariffs stay the same.
Prices have stabilised after two years of squeeze on households (Picture: Owen Humphreys/PA Wire)
But with the new rates coming into force from April 1, nearly a fifth of households without a smart meter have not submitted meter readings in the last three months.
A further 4% haven’t done so for an entire year, an Opinium survey for comparison site Uswitch found.
If they still haven’t done it by April 1, suppliers will estimate usage.
This will potentially see households paying for more energy than they have used, and at a higher rate than they should.
The arrival of spring has reduced the need for energy heating our homes (Picture: monkeybusinessimages/Getty Images/iStockphoto)
Ben Gallizzi, energy spokesman at Uswitch.com, said: ‘We urge any households without a smart meter to submit their meter readings this bank holiday weekend, so their supplier has an updated and accurate view of your account on or around April 1.
‘This is when the next energy price cap comes into effect, which will see the rates that households on standard variable tariffs pay for their energy fall for April, May and June.
‘If you delay submitting your readings, some of your energy usage could end up being charged under the higher rates we’re currently facing.
‘All households without a smart meter should ideally submit a meter reading every month to improve the accuracy of their bills.’
More Trending
Roughly 14% of people who had not submitted meter readings did not know how to read their meter.
Another 12% said they did not know where their meter was.
The difference between a week’s worth of energy at the old rates compared with a week in April was £4.65 for the average household, Uswitch warned.
Get in touch with our news team by emailing us at webnews@metro.co.uk.
For more stories like this, check our news page.