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It’s time for a meter read! Yesterday, the Energy Price Cap lowered – which means your energy bills could be going down. But if you don’t have a smart meter and you haven’t sent a meter reading, you could miss out! Here’s how to check your meter and decide if you need to fix your tariff now, too.
Should You Fix Your Tariff Now?
Read Your Meter
While meters all vary a little between each other, there are a few common similarities. If you’ve never taken a meter reading before, here’s how to do a meter read.
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If You Dispute Your Bill
If you haven’t submitted a meter reading in a long time (or ever), your energy bill could wildly change. This might go in your favour with a nice big refund, or it could land you with a big bill. This is because energy companies use estimates unless you give them accurate readings, so they could have been over- or under-estimating a lot.
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Should You Fix Your Energy Tariff Now?
With the Energy Price Cap at its lowest to date, until at least October, now is a good time for locking in a fixed price tariff for most people.
To ensure a lower tariff for the next 12 months, it is advisable to switch from your current tariff to a fixed one. This will protect you from any potential increases that may occur with a variable tariff. Contact your energy supplier to explore the available rates and the process for switching. If you are still under a fixed-term contract, there may be an exit fee, but you can negotiate to have it waived, especially if you are sticking with the same provider. Be prepared to negotiate for the best deal!