The typical household energy bill is set to be capped at £2,500 per year for two years from next month. The new energy price guarantee, announced earlier this month by Prime Minister Liz Truss, will save the typical home around £1,000 from October and protect billpayers from further expected rises. However it will not mean every household pays less than £2,500 – read more about why here.
With just days until the new price guarantee comes into effect on October 1 people are being advised to take a meter reading to ensure they pay the cheapest possible rate when the new measures come into effect. Although the £2,500 cap is below what the price cap previously announced by regulator Ofgem would have been energy consumers will still be paying almost double what they were last winter.
Here is the latest advice on when you should take a meter reading before October 1. This does not apply if you have a smart meter that is sending regular readings to your energy firm or if you're on prepay.
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Until October 1 energy costs per unit will still be in line with the previous price cap so it’s worth taking a meter reading before these increases come into effect. By doing this it means your energy company cannot charge you at the higher rate for any units that have been used prior to October 1.
If you don't have a smart meter you should take a reading on September 30 and send it to your supplier before October 1. If that's not possible or your supplier’s website crashes on September 30 you can take a photo and submit it by emailing or phoning your supplier with the reading. They will normally accept readings taken this way.
There’s no fixed time to take your meter readings on September 30 – you could do it at one minute to midnight if you like as this means any energy you use before the new price cap comes in should be billed at the current rate before the change. From October 1 onwards any energy used will be billed at the new higher price cap. To get the latest money news straight to your inbox subscribe to our dedicated newsletter here.
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