Essential check every energy customer must make this week or risk unexpected bills --[Reported by Umva mag]

MILLIONS of households across England, Scotland and Wales must check their energy meters before the price cap change next week. From October 1, households will see their energy bills edge up by £149 a year, on average. Making essential checks this week could help you save big on unnecessary billsGetty The new energy price cap which limits the amount that can be charged will be around 10% higher than the current level which has been in place since July Bills will rise from £1,568 to £1,717 according to the regulator Ofgem which sets the limit. For British households, it is now more important than ever to keep on top of meter readings to dodge unexpected bills. The week up to to the price cap change is usually known as meter reading week, and doing it around this time means that you will get an accurate bill. To make sure your bills are accurate, households on standard variable tariffs (SVTs) should submit meter readings as soon as they can around the new cap being implemented. If your bill’s not accurate you could be charged more than you should, or if you’re charged less, you could end up owing money – so either way it pays to get it right. Submitting a reading helps prevent your supplier for estimating your usage, and means you’ll be charged accurately to avoid any disputes. But keep in mind that your bills could increase if your energy usage went up in September – either way, having a figure written down at can offer you peace of mind that there is full transparency between you and your supplier. Who should submit a meter reading? Around 29millions households across Britain are on an SVT (standard variable tarriff). If you are one of these households and you don’t have a smart meter or a pay-as you-go meter, you should submit a reading. SVTs are regulated by the price cap, and without a smart meter, readings are not automatically sent to your provider – so if you don’t submit one by October 1, your usage will be estimated. We recommend you submit a reading once a month to ensure your bills are accurate, and you are being charged correctly. Remember too that the price cap is based on the typical usage for gas and electric across the year – if you use more you’ll pay more, but use less and your bill can be less than the cap. The cap on energy applies to the kwh hours used and the £1,717 amount is an average. If you have a smart reader If you have a smart reader, your data is sent to your supplier automatically – so you don’t need to submit a reading. We recommend that you still make regular checks to your energy figures, by taking a photo of your meter on October 1 and comparing it to information online and on your paper statements. If you prepay for energy You also do not need to submit a reading if you prepay for energy, as you’ll only ever pay upfront for what you’ve used. It should be noted, however, that energy purchased before October 1 will be cheaper than energy after the cap is brought in – so there might be some logic in topping up now. If you’re on a fixed rate If you’re on a fixed rate energy contract, the price cap does not apply, as your rate is locked in for the duration of your deal. It’s worth reviewing your contract’s end date to see if switching to an SVT or another provider could be more cost effective. How to submit a meter reading To submit a meter reading, it’s usually easy to do via your online account or on a mobile app. All you’ll have to do is log in and provide the latest numbers on your energy and gas meters. Some companies also accept readings over the phone, through WhatsApp, or via SMS. To find out which method is used by your supplier, visit their website. How do I calculate my energy bill? BELOW we reveal how you can calculate your own energy bill. To calculate how much you pay for your energy bill, you must find out your unit rate for gas and electricity and the standing charge for each fuel type. The unit rate will usually be shown on your bill in p/kWh.The standing charge is a daily charge that is paid 365 days of the year – irrespective of whether or not you use any gas or electricity. You will then need to note down your own annual energy usage from a previous bill. Once you have these details, you can work out your gas and electricity costs separately. Multiply your usage in kWh by the unit rate cost in p/kWh for the corresponding fuel type – this will give you your usage costs. You’ll then need to multiply each standing charge by 365 and add this figure to the totals for your usage – this will then give you your annual costs. Divide this figure by 12, and you’ll be able to determine how much you should expect to pay each month from April 1. What is the deadline to submit a reading? Oc

Sep 23, 2024 - 15:06

Essential check every energy customer must make this week or risk unexpected bills --[Reported by Umva mag]

MILLIONS of households across England, Scotland and Wales must check their energy meters before the price cap change next week.

From October 1, households will see their energy bills edge up by £149 a year, on average.

a digital display that says weekly budget exceeded — Making essential checks this week could help you save big on unnecessary bills

The new energy price cap which limits the amount that can be charged will be around 10% higher than the current level which has been in place since July

Bills will rise from £1,568 to £1,717 according to the regulator Ofgem which sets the limit.

For British households, it is now more important than ever to keep on top of meter readings to dodge unexpected bills.

The week up to to the price cap change is usually known as meter reading week, and doing it around this time means that you will get an accurate bill.

To make sure your bills are accurate, households on standard variable tariffs (SVTs) should submit meter readings as soon as they can around the new cap being implemented.

If your bill’s not accurate you could be charged more than you should, or if you’re charged less, you could end up owing money – so either way it pays to get it right.

Submitting a reading helps prevent your supplier for estimating your usage, and means you’ll be charged accurately to avoid any disputes.

But keep in mind that your bills could increase if your energy usage went up in September – either way, having a figure written down at can offer you peace of mind that there is full transparency between you and your supplier.

Who should submit a meter reading?

Around 29millions households across Britain are on an SVT (standard variable tarriff).

If you are one of these households and you don’t have a smart meter or a pay-as you-go meter, you should submit a reading.

SVTs are regulated by the price cap, and without a smart meter, readings are not automatically sent to your provider – so if you don’t submit one by October 1, your usage will be estimated.

We recommend you submit a reading once a month to ensure your bills are accurate, and you are being charged correctly.

Remember too that the price cap is based on the typical usage for gas and electric across the year – if you use more you’ll pay more, but use less and your bill can be less than the cap.

The cap on energy applies to the kwh hours used and the £1,717 amount is an average.

If you have a smart reader

If you have a smart reader, your data is sent to your supplier automatically – so you don’t need to submit a reading.

We recommend that you still make regular checks to your energy figures, by taking a photo of your meter on October 1 and comparing it to information online and on your paper statements.

If you prepay for energy

You also do not need to submit a reading if you prepay for energy, as you’ll only ever pay upfront for what you’ve used.

It should be noted, however, that energy purchased before October 1 will be cheaper than energy after the cap is brought in – so there might be some logic in topping up now.

If you’re on a fixed rate

If you’re on a fixed rate energy contract, the price cap does not apply, as your rate is locked in for the duration of your deal.

It’s worth reviewing your contract’s end date to see if switching to an SVT or another provider could be more cost effective.

How to submit a meter reading

To submit a meter reading, it’s usually easy to do via your online account or on a mobile app.

All you’ll have to do is log in and provide the latest numbers on your energy and gas meters. Some companies also accept readings over the phone, through WhatsApp, or via SMS.

To find out which method is used by your supplier, visit their website.

How do I calculate my energy bill?

BELOW we reveal how you can calculate your own energy bill.

To calculate how much you pay for your energy bill, you must find out your unit rate for gas and electricity and the standing charge for each fuel type.

The unit rate will usually be shown on your bill in p/kWh.The standing charge is a daily charge that is paid 365 days of the year – irrespective of whether or not you use any gas or electricity.

You will then need to note down your own annual energy usage from a previous bill.

Once you have these details, you can work out your gas and electricity costs separately.

Multiply your usage in kWh by the unit rate cost in p/kWh for the corresponding fuel type – this will give you your usage costs.

You’ll then need to multiply each standing charge by 365 and add this figure to the totals for your usage – this will then give you your annual costs.

Divide this figure by 12, and you’ll be able to determine how much you should expect to pay each month from April 1.

What is the deadline to submit a reading?

Octopus

If you’re a customer with Octopus Energy, you should register your meter reading on, or close to, the exact date October 1.

Octopus said on their website: “If you want a completely accurate bill, you’re best to submit a reading on – or close to – the date your prices change. For example, if your tariff is changing on April 2, submit a reading sometime on the 2.”

EDF

EDF customers will be able to back date their meter reads at any time up to and including Wednesday October 9.

Customers will be able to leave meter reads via the EDF App, or online via their MyAccount. Readings can also be submitted via telephone, email or by text and WhatsApp.

British Gas

British Gas customers can take and submit meter readings anytime, including on October 1.

If customers take a read on October 1, but don’t get a chance to provide it on the day, they have until October 14 to submit the reading from that date.

This late reading can be submitted using a form on their website, found on the meter read page, and they will use that reading to calculate what you pay before the rates change.

Scottish Power

Scottish Power said: “there is no deadline for meter readings. We can update meter readings as and when the customer provides us.”

If you are on a standard variable or default tariff with Scottish Power, then the energy price cap will automatically apply.

However, if your prices need to increase as a result, there’s no need to contact them.

Scottish Power have said: “We’ll write to you by letter or email to let you know what your new prices will be before the change takes place.”

Utilita

When we asked Utilita, they pointed out that “the vast majority of Utilita customers – in excess of 90% – don’t have to worry about the hassle of submitting meter readings because they have a smart meter”

The Sun also reached out to OVO Energy and Utility Warehouse but did not hear back. We will update readers if this changes.

If you are unsure of your suppliers deadline, go to your online account and view the conditions of your energy arrangement.

And if it’s still not specified, we recommend you submit the reading on or before October 1 anyway, just in case, so you don’t risk missing the deadline.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

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The following news has been carefully analyzed, curated, and compiled by Umva Mag from a diverse range of people, sources, and reputable platforms. Our editorial team strives to ensure the accuracy and reliability of the information we provide. By combining insights from multiple perspectives, we aim to offer a well-rounded and comprehensive understanding of the events and stories that shape our world. Umva Mag values transparency, accountability, and journalistic integrity, ensuring that each piece of content is delivered with the utmost professionalism.