Martin Lewis Urges Brits To Take Meter Readings This Thursday
Topics: Home, Life, Money, Martin Lewis
Gregory Robinson
Featured Image Credit: ITV/Shutterstock
Topics: Home, Life, Money, Martin Lewis
Martin Lewis is calling on households to take a meter reading this week before energy prices increase.
From Friday 1st April, energy prices are set to rocket in price, with Ofgem's price cap rising from £1,277 to £1,971. This means the average household bill could be increasing by around £693 per year.
The MoneySavingExpert himself has explained why Brits should take a meter reading on the 31st March.
Advert
By taking a meter reading the day before the price cap increases, you can tell your energy provider how much electricity you used before the new prices are introduced.
Speaking on his ITV show The Martin Lewis Money Show Live, he explained: "That way you draw a line in the sand that says to your energy firm, I've only used this amount at the cheaper rate.
“Don't start charging me more on the higher rate and estimating I use some of it afterwards.”
The new energy price caps will limit the rates a supplier can charge for each unit of electricity or gas your household uses.
Sending meter readings to your supplier regularly is very important to insure you are not overcharged. If you fail to send meter readings, your supplier may estimate your usage for you.
When taking a reading from a digital meter, there will be five digits in black or white. One or more red digits may follow.
You must send the first five numbers to your supplier.
Lewis also issued a warning against cancelling direct debits for paying energy bills.
He tweeted earlier this month: "WARNING! Many talking about cancelling energy Direct Debits to 'keep in control' and just pay when billed," he wrote.
"Yet be aware that's usually charged at a HIGHER RATE. Price cap (for someone with typical use) paying by Monthly DD £1,971, Prepay meter £2,017, Quarterly bills £2,100."
The increased price cap comes as the cost of living continues to surge as it has done in the last few months, with Brits struggling to pay their energy bills as well as steep increases in food and petrol prices.
Inflation reached 6.2 per cent in February, the highest level in three decades, according to figures from the Office for National Statistics.