Millions of households urged to take meter studying when vitality worth cap drops

Millions of households are urged to submit their meter readings earlier than the brand new energy worth cap takes impact on October 1.

Failure to take action may lead to households being overcharged for his or her vitality.

To guarantee accuracy, it’s inspired that households take the meter studying as near October 1 as potential.

The excellent date to take action is the final day earlier than the brand new worth cap is available in, on September 30 – this fashion, the vitality provider is aware of precisely how a lot to cost every family.

If a latest meter studying isn’t taken, vitality suppliers might be left to estimate one’s utilization which may result in prospects paying greater than they need to.

Meter readings are vital as they’re the premise for correct billing.

Starting from October 1, a brand new vitality worth cap might be enforced, affecting people utilizing commonplace variable tariffs.

The vitality worth cap is about to lower by seven % from £2,074 to £1,923.

This worth cap isn’t a cap on the general quantity individuals really must pay for his or her gasoline and electrical energy – it as a substitute caps how a lot they pay per kilowatt hour (or unit) of vitality.

Ofgem has introduced that the precise quantity somebody pays will rely on their precise family utilization and the place they reside, in addition to the meter and cost sort.

With only a week till the brand new worth cap takes impact, households have been suggested to make sure they ship an up-to-date meter studying to their vitality provider.

From October 1, the brand new vitality charges are as follows:

· Gas unit fee – 6.89p per kWh with a standing cost of 29.62p per day

· Electricity unit fee – 27.35p per kWh with a standing cost of 53.37p per day

There are about 29 million households in Britain on commonplace variable tariffs and due to this fact are topic to the value cap coming in place on Sunday.

Last month, vitality consultants at Cornwall Insight predicted that the value cap drop may find yourself saving the common family greater than £200 a 12 months on their payments. 

However, it is value noting {that a} new worth cap is introduced each three months, so it may all change once more come January.