Your money-making expert. Financial journalist, TV and radio personality.
|Take that energy meter reading now!
Bill payers are being warned across the UK that they should be taking an energy reading ahead of this Friday. This should ensure you not being charged for the higher rates that are coming into affect from April 1.
If you pay monthly and via Direct Debit your provider may take the average from their own estimate from the higher rate. Therefore the 54 per cent hike could make an unnecesary leap in your bill.
In February this year, Ofgem raised the energy Price Cap by £693 to £1,971, up from the previous Cap of £1,277.
The experts say:
Gareth Kloet, a spokesperson at prioce comparission site GoCompare’s has warned:
“Until April 1st this year, energy costs per unit will still be in line with the previous Price Cap of £1,277 – so when this increases on April 1st some people will be paying more than half again for the cost of their energy. So, it’s absolutely worth taking a meter reading before these increases come into effect. By doing this, it simply means your energy company cannot charge you at the higher rate for any units that have been used prior to April 1st.
|“As we are heading out of the Winter months, the hope is that we won’t need to use at much energy around the home, so making sure that you’ve paid the lesser amount during the colder months will help to keep your costs down.
“The cost-of-living crisis is hitting everyone – so if there’s a way to shave money off your bills this April, we would urge all bill payers to take both gas and electricity meter readings on March 31st and make sure you submit these to your supplier. And if you pay by Direct Debit, it might also be a good time to look at revising your monthly payments to take into account the higher rates.”
What happens if you simply can’t pay your bill?
The reality is that even price comparisson sites can’t offer a solution. Where they would traditionally tell people to switch, the prices are so uniformally high that there is no competative solution to the nation’s problem. We therefore take a look at what happens if you simply cannot pay your energy bill here.
Get weekly ideas, deals & freebies
New data capture form 2023
"*" indicates required fields