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Energy bills on direct debit? Report your meter readings to your supplier TODAY to minimise impact of energy price cap hike

With the new energy price cap coming into force from tomorrow, April 1 2022, millions of budget-conscious consumers – including savvy financial advisers – who pay their bills by direct debit, are today busily reporting their electricity and gas meter readings to their energy suppliers. That’s if they can actually manage to get through however.

Why are people reporting their meter readings?

The record increase in global gas prices has meant a 54% hike to the energy price cap applies from tomorrow which is set to affect 22 million consumers in the UK, according to OFGEM .  That will mean much more expensive fuel charges for most of us who are not lucky enough to still be on a fixed rate tariff.

So, by logging your meter reading with your supplier today, you will have registered with them that all the energy you have used to date should be charged at the rate applicable today – not tomorrow and beyond at the newly inflated prices.

Sounds simple enough doesn’t it?  However, we’ve been hearing reports today that many energy companies have been overwhelmed with callers and visits to their websites which have caused problems and delays for consumers getting through this morning. But the message is to persevere, and as a back up, to make sure you take a photo on your phone of your meter readings today so you have proof of readings at least.

Want to know more about it? MoneySavingExpert’s Martin Lewis has been campaigning strongly on this issue, and you can hear more from him  HERE 

 

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