Reminder to read your meters tomorrow

[trulyunruly01]

The energy price cap changes on 1 October and the best way to ensure you get the new price from the very minute it comes into force is by reading your meter before midnight tomorrow.
So for a really exciting Saturday night, get your torch out and expect spiders in the meter box!
It won't be the end of the world if you do it Sunday or Monday, but let's get on it!

Thank you @trulyunruly01 I'm embarrassed to say I don't really understand all this. All I know is, nowt changed for us last Oct, but smartmeter used to say 31p ish at breakfast time, then in April it was 61p ish, then a month or so ago it jumped to 90p approx and our usage hasn't changed (no new appliances)

Is there a link you could offer, so I can wise up, please? Thank you!

😊thank you
@Allthestories prices have gone up

You don't need to do this if you have a smart meter

You don't need to do this if you're on a fixed tariff

You don't need to dedicate your entire weekend (or any time at all really) to this if, like last time, half the country decides to do it and all the supplier websites crash under the demand. If this happens again, leave it and get on with your weekend.

Last time there were people losing their minds online because they couldn't submit their reading when in reality, they could have just done it later or waited until they received their bill and then challenged it if the estimate wasn't in their favour (if the energy company estimated the right way for you, you could actually make a little money, but in reality, for most people it would be about a couple of quid at most).

Thanks! Yes I know it's because prices have gone up, but wasn't sure why we (well not me as it turns out!) need to read meter 😊

Why would it matter?
I never have and never will exceed any cap.
Don't you need to be 4 people in T-shirts no socks, in a 4bed house to be concerned about what the max bill might be?
Would my £100 a month payment go down if I read the meter now?

The rates are capped, not the bill. It means nothing if you 'exceed' what a household with average usage will pay per year under the cap. I pay £70 a month, I still regularly read my meter to make sure I am being billed the right amount.

At times the variable cap changes, like October 1st, if you read your meter within a week of the rate change then it will give you more accurate bills.

Thank you @trulyunruly01 x

I'm on a smart meter but on the first of every month I take photos of the meter readings & email them to myself. Just in case...
Hadn't thought of doing it the night before the price change though - might do it both Saturday evening & Sunday morning this time!

I did mine 2 weeks ago - should I do it again?

I always submit a reading on the 1st of the month and the bill is dated to the last day of the previous month.

If you want to it won't hurt, otherwise they will just estimate what you used in the last two weeks which should be pretty accurate and shouldn't make much difference.

https://forums.moneysavingexpert.com/categories/energy

The price cap is going down in October (not up?) so no advantage to reading it on the last day of the month( I read mine monthly anyway).

They could still overestimate what someone used before the change and underestimate what they use after.

As previously stated it’s the rate that’s capped not the total amount paid. It’s not possible to ‘exceed any cap’ (or to not exceed any cap) in the way you say because that’s not how it works.

The amount capped is the amount the government allow the energy companies to charge per unit of fuel. It is that amount paid per unit of fuel is about to go down. That affects the single person in a 1 bed well insulated flat as much as the millionaire in his draughty 16th century mansion (although obviously, the former will save a couple of pounds while the latter will save thousands).

Your direct debit may or may not change - it’s not a set payment for all the energy you want to use, it’s a guess at how much energy will be consumed. If you use more, you will owe them money; if you use less, you will build up a credit on your account (as most people do during the summer months).

Therefore, yes, unless you are on a fixed rate, you will save money. If you tell the energy company your readings, they will know how much of your consumption is at a cheaper rate and charge you less per unit for all the energy used after the rate change.