Customers of British Gas, EON, Ovo, Octopus, and EDF are advised to submit their meter readings by Tuesday to benefit from upcoming energy price reductions. Ofgem has announced that the energy price cap will drop by 7% starting April 1, resulting in an estimated annual savings of £117—approximately £10 off monthly bills—for a typical household on a default tariff.
To ensure accurate billing and maximize savings, personal finance experts recommend providing up-to-date meter readings, accompanied by photos as proof. This proactive step helps avoid estimated billing errors that could otherwise result in higher charges.
Martin Lewis’ Money Saving Expert website advises: “Submitting a meter reading around April 1 ensures you’re charged correctly at the new lower rate. Without this, suppliers may estimate usage at the higher previous rate, potentially costing you more.”
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The guidance applies not only to households on price-capped tariffs but also to those on fixed-rate plans, as government policy changes are affecting all energy prices by removing certain charges.
For consumers with smart meters functioning in smart mode, no action is needed since readings are sent automatically to suppliers.
Labour Party Energy Secretary Ed Miliband highlighted the government’s role in reducing bills: “This fall in energy costs stems from government actions taken in the recent Budget, funded by asking the wealthiest to contribute their fair share. Our mission is to end the era of high energy bills by promoting clean energy and delivering the Warm Homes Plan—the largest home upgrade scheme in British history.”