MILLIONS of households have just hours left to submit their meter readings amid the fresh energy price cap.
After tomorrow (October 8), Octopus Energy customers will no longer be able to backdate their October 1 meter readings, meaning they could risk unexpected charges to their bill.
Energy suppliers often recommend customers submit their meter readings on National Meter Reading Day, October 1, so they can secure an accurate bill when the price cap changes.
However, some suppliers have allowed customers extra time to submit the reading from October 1 in case they missed the date.
Households on a Standard Variable Tariff (SVT) are affected by the price cap and should submit a meter reading.
Households without an accurate bill could risk being overcharged – or if they are undercharged, they could eventually owe money – so either way it pays to get it right.
The new energy price cap, which limits the amount that can be charged, is now around 10% higher than the previous level which had been in place since July.
According to Ofgem, which sets the limit, this means the average dual fuel bill rises from £1,568 on average to £1,717, though the exact amount you pay still depends on usage and can be higher or lower.
The energy price cap changes every there months – for instance, in June, the cap fell to the lowest level in two years, from £1,690 to the previous rate of £1,568.
Now, a household in England, Wales and Scotland using a standard amount of gas and electricity will see their annual bill rise by about £149.
The price cap makes sure that prices for people on SVTs are fair and reflect the cost of energy.
It is calculated using a range of factors, including wholesale energy prices, as well as network, operating and policy costs, and VAT.
In order to maintain an accurate bill amid the price cap change, customers should have remembered to take a meter reading from the first day of October.
Octopus Energy customers must submit this reading via the phone, website, or mobile app by the end of tomorrow..
Keep in mind that if you are planning to submit your reading via the phone, Octopus phone lines close at 5pm.
If you don’t submit your reading by this date you can still tel the supplier later on, but it may not be applied to your next bill.
Octopus customers aren’t the only ones with hours to submit – E.on Next is another supplier which has set its deadline as tomorrow.
E.on Next advises that the best way to submit a reading is via your online account – the website also informs customers on how to take an accurate meter reading.
EDF, OVO and British Gas customers have a bit more time, with EDF’s deadline being October 9, OVO’s being October 11, and British Gas allowing another week, until October 14.
EDF customers can submit meter reads through the EDF app, their online MyAccount, or via telephone, email, text or Whatsapp.
Ovo Energy customers can submit their meter readings via the app, online account, phone, Whatsapp or webchat at any time, however the closer to the bill date the customer provides their bill date, the less of the bill will need to be estimated.
For accurate bills, Ovo recommends customers opt for a smart meter.
Meanwhile, back in September British Gas said: “If customers take a read on 1st October, but don’t get a chance to provide it on the day, a form on our website, including on our meter read page, will be available until 14th October.
“This will allow them to submit the read they took on 1st October and we will use that reading to calculate what they pay before the rates change.”
For customers of Scottish Power or Utility Household, the deadline to submit a meter reading has unfortunately closed.
If you are on a smart meter, you do not need to submit a reading, as this is automatically sent by your device.
Those on prepayment plans or fixed rates also do not need to worry, as their bill is either predetermined, or their rate is locked in for the duration of their deal.
Only households on an SVT are required to submit a meter reading, so they can avoid any disputes with their energy dealer when their bill comes through.
If you’re unsure what plan you are on, visit your suppliers website or revisit your paperwork from when you began your energy package.
If you’re worried about affording hiked up bills this winter, many energy suppliers are opening Support Funds to help struggling customers.
For example, British Gas has reopened its Individual and Families support fund, which in the past has helped over 21,000 British customers with energy debt write off grants of up to £2,000.00.
Over £140 million has been set aside this winter season for those who are struggling financially.
This extends to British Gas customers and non-customers, who live in England, Scotland or Wales.
To find out if you are eligible, visit the British Gas website and search for the Individual and Families support fund – here you will find all the details available.
It is recommended that customers from companies with hardship funds first seek assistance from their own schemes.
For example, Octopus Energy has recently launched a scheme for pensioners after their Winter Fuel Payments were slashed, offering fresh discretionary credit of between £50 and £200.
Scottish Power’s Hardship Fund has also handed out more than £60 million to struggling customers.
And Utilita also offers grants to its customers to help clear of minimise debt, by operating through its charity partner, Utilita Giving.
Utilita Giving also partners with other charities such as IncomeMax, which helps customers make sure they are claiming what they are entitled to, and Let’s Talk, which provides replacement white goods.
E.ON’s Next Energy Fund also provides grants and appliance replacement services to struggling customers.
To find out what support your energy supplier is offering this colder season, visit their website or ring their helpline (which can be found online).
Help can also be accessed from the government via the Household Support Fund, which has renewed a fresh pot of £421 million funding for vulnerable households.
To find out if this is available with your supplier or council, and whether you are eligible, go to their websites and read the terms and conditions of the scheme.
SWITCHING energy providers can sound like a hassle - but fortunately it's pretty straight forward to change supplier - and save lots of cash.
Shop around – If you’re on an SVT deal you are likely throwing away up to £250 a year. Use a comparion site such as MoneySuperMarket.com, uSwitch or EnergyHelpline.com to see what deals are available to you.
The cheapest deals are usually found online and are fixed deals – meaning you’ll pay a fixed amount usually for 12 months.
Switch – When you’ve found one, all you have to do is contact the new supplier.
It helps to have the following information – which you can find on your bill – to hand to give the new supplier.
It will then notify your current supplier and begin the switch.
It should take no longer than three weeks to complete the switch and your supply won’t be interrupted in that time.
If you’re just looking for simple ways to reduce your bill this winter, each of these supplier schemes, as well as the Household Support Fund also offer free electric blankets as part of their deal.
For example, Octopus have said they will distribute 20,000 electric blankets from Dreamland to its most vulnerable customers, keeping them warm for “as little as 3p an hour”.
The “heat yourself not your home” approach is trending fast, with retailers such as B&M introducing ranges of affordable self-heating appliances.
However, it is important to note that the elderly should not avoid turning the heating on if they are cold – for energy help contact your provider or local council, or read our article here.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
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