The Energy Price Guarantee (EPG) comes into effect this weekend. Reading your gas and electricity meters over the next few days will help to ensure you’re billed correctly from 1 October 2022.
When energy bills increased in April, many people contacted Which? to let us know they has trouble trying to submit their meter readings on 31 March - the eve of the price cap change. This caused some providers' websites to experience issues due to the pressure of customers trying to send their meter readings ahead of the cap’s implementation.
But there's no need to worry if you aren’t able to send your energy provider a reading by 1 October. Read on to find out what you can do to ensure you're billed correctly.
Ease the squeeze on your household bills with our latest cost of living advice and tips
Why you should take a meter reading if you can
As increased unit rates for those on variable tariffs will start affecting bills from 1 October, any energy that affected households use from then onwards will be charged at a higher rate than energy used up until that date.
Energy suppliers have sophisticated ways to estimate what energy you've used when, so you're unlikely to lose out if you're not able to submit a reading this weekend.
But if you want to make sure you're definitely only paying the higher prices for energy you've used in October, it's a good idea to take a meter reading this weekend. This will help to ensure you're billed accurately for exactly what you've used.
If you’re unable to send your meter reading to your energy company over this weekend, there’s no need to panic. Most providers will let you submit backdated meter readings for around a week after you took them.
So take a note - ideally a photograph - of your meter readings on 30 September, and remember to upload them to your energy account at some point in the coming days, making it clear which date the reading was taken on.
Some energy companies have customer service email addresses or automated phone lines through which you can send in your meter readings too. These methods may be a quicker way of submitting yours if websites face issues again.
Sending your supplier regular meter readings will mean you can cross reference your bills with your usage. And if you spot anything that doesn't look right, make sure you contact your provider to question it.
What is the Energy Price Guarantee?
The Energy Price Guarantee (EPG) freezes unit rates for domestic customers for the next two years. Energy prices for suppliers will still continue to change, but the government will be paying the excess instead of customers.
The guarantee impacts energy unit rates rather than standing charges, which will stay as set by the energy regulator Ofgem for October 2022. That means that for energy customers paying for variable tariffs by direct debit in England, Scotland and Wales, unit rates and standing charges will work out at around:
- Electricity: 34p per kWh with a standing charge of 46p per day
- Gas: 10.3p per kWh with a standing charge of 28p per day
Rates will be slightly different based on where you are and the sort of tariff you pay for. The support package will be applied to your energy bills automatically and you do not have to do anything for this to happen.
The EPG works differently to Ofgem’s price cap, which caps unit rates as well as standing charges for customers on out-of-contract tariffs. Given standing charges are not covered by the EPG, these will continue to rise each time Ofgem shifts the price cap each quarter, but the government will be paying any difference they create between the EPG and price cap.
In addition, the government is rolling out several measures to help households through the cost-of-living crisis. Alongside the EPG, they include the Energy Bill Support Scheme, which will see every household receive a £400 discount on their winter 2022 energy bills, as well as additional energy payments for vulnerable groups.
Find out more about getting the government's cost of living support
Use our energy bills calculator to find out what yours may be
If you're currently on a variable tariff and pay by direct debit, our calculator will show how much your bills could be over the next two years, including the £400 discount applied from October 2022 to March 2023.
Can't see the calculator? Make sure you're viewing it on our site
Please note that this tool is simply an estimate based on the percentage change from the price cap set in April 2022 to the new annual bill estimate for a typical household once the government's price freeze is applied in October 2022, including the £400 discount for the first six months. Your own payments will vary based on how much of each type of fuel you use, and where you live.
Find out how the Energy Price Guarantee will impact your household running costs
source https://www.which.co.uk/news/article/why-you-should-take-an-energy-meter-reading-this-weekend-ancWH8R1gl08