MILLIONS of households have only a few weeks remaining to submit their meter readings before energy bills ris this April.
From April 1, Ofgem‘s energy price cap is set to rise by approximately 6%, adding an extra £111 per year to the average household bill.
Octopus Energy has now confirmed the deadline for submitting a reading before prices change[/caption]
It’s a blow to 22million households on standard variable tariffs which are subject to the price cap, and will see their bills rise from £1,738 to £1,849 per year.
However, many households are likely to face costs exceeding this headline figure.
This is because the energy price cap does not limit the total amount a customer pays for their energy.
Instead, it sets a maximum charge per kilowatt-hour (kWh) of gas and electricity, alongside the daily standing charges.
Another factor affecting how much you pay is the area you live.
That’s why it’s essential for customers without a smart meter to provide a meter reading before the price cap changes come into effect, ensuring they are billed accurately.
Octopus Energy has now confirmed the deadline for doing so.
While customers are encouraged to submit their meter readings by the end of March, the supplier has confirmed that any readings provided by April 8 will be backdated.
This ensures customers are charged accurately based on the energy prices in effect from the date the changes were implemented.
An updated meter reading will mean your supplier has a more accurate idea of your usage and bill you accurately.
Energy suppliers usually require you to take regular meter readings from your gas and electricity meter to work out how much they should charge you.
Customers who don’t do this are billed on estimated usage and will likely pay more.
Octopus Energy customers can submit their reading via the phone, website, or mobile app.
If you have a smart meter you do not need to submit a manual reading, as their readings are sent to suppliers automatically.
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.
How to take a meter reading
The easiest way to take a meter reading is to take a photo of your gas and electricity meters.
This means you have evidence in case you need to dispute a bill.
You can send in your meter reading online via your energy account.
Some providers will also let you send in the numbers by text or through their app.
Check which options your supplier offers on their website.
Electricity meters
If you have a digital electricity meter then you will see a row of six numbers.
Five of them will be in black and one will be in red.
Write down the five numbers in black, which are shown from left to right.
If you are on an economy 7 or 10 tariff, which gives you cheaper electricity at night, then you will have two rows of numbers.
You need both to take a reading.
If you have a traditional dial meter then you need to read the first five dials from left to right.
Ignore any red dials.
If the pointer is between two numbers then write down the lowest figure.
If it is between nine and zero then write down the number nine.
Gas meters
If you have a digital metric gas meter showing five numbers followed by a decimal point then you need to write down the first five numbers.
If you have a digital imperial meter then you will see four black numbers and two red numbers.
Write down the four black numbers only.
If you have a digital gas meter, follow the same steps as the digital electricity meter.
What energy bill help is available?
There’s a number of different ways to get help paying your energy bills if you’re struggling to get by.
If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.
This involves paying off what you owe in instalments over a set period.
If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.
Several energy firms have schemes available to customers struggling to cover their bills.
But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances.
For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000.
British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.
You don’t need to be a British Gas customer to apply for the second fund.
EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.
Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).
The service helps support vulnerable households, such as those who are elderly or ill.
Some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.
Get in touch with your energy firm to see if you can apply.
