Households in the UK are advised to submit meter readings to their energy supplier by June 30, 2024, before the new energy price cap adjustment takes effect on July 1. Energy expert Les Roberts from Bionic emphasized the importance of this step for accurate billing under the new lower rates, preventing overcharging.
Submitting monthly meter readings helps maintain correct billing, avoiding estimates that can lead to overpayments. If discrepancies arise between meter readings and bills, consumers can consult the Energy Ombudsman for resolution.
The upcoming price cap is expected to reduce the average annual energy bill by £506 compared to the previous year, yet costs remain higher than in 2021. Roberts suggests evaluating the benefits of a fixed energy tariff, considering the variable nature of price-capped tariffs, which change quarterly. Comparing suppliers' notice periods for terminating contracts is also advisable. Additionally, business owners should note that non-domestic energy contracts lack price caps; thus, comparing quotes and fixing rates could provide financial predictability.