Meter Reading Week: Martin Lewis shares why you should submit a meter reading before the Energy Price Cap rise

• Consumers paying energy bills by Direct Debit are encouraged to submit meter readings
• That’s because the energy price cap is set to rise on Tuesday 1 October
• Accurate readings submitted before the price rise can prevent reliance on estimated readings, potentially saving consumers money
• To avoid overwhelming supplier systems on 1 October, it’s advisable to submit readings a few days before or after
• Households with functioning smart meters do not need to take action

Martin Lewis’ Money Saving Expert team has reminded everyone that is is “Meter Reading Week” (!), when everyone who pays their energy bill by Direct Debit should submit an energy reading to their supplier.

That’s because it’s just a week until the energy price cap rises on Tuesday 1 October. But why should you do it, and how can it save you money on your gas and electricity bills?

Here is everything you need to know about it...

Why do I need to submit a meter reading?

For households that pay their energy bills by Direct Debit, submitting an accurate meter reading just before a price cap rise - such as the one anticipated on October 1 - can have significant financial implications.

That’s because energy companies use estimated readings to determine your energy usage if you fail to provide actual readings, and when prices are set to rise, relying on estimated readings can lead to paying more than necessary.

The energy price cap, enforced by Ofgem, is a maximum limit on the unit price that energy suppliers can charge for gas and electricity. When this cap rises, so too does the cost per kilowatt-hour (kWh) that consumers pay.

Therefore, consumers are advised to submit their meter readings close to the date of the price change, which allows energy providers to calculate more accurate usage at the older, cheaper prices.

Do I have to do it on 1 October?

If everyone tries to submit their readings on the same day, it can overwhelm suppliers' websites and jam their phone lines, which could negatively impact vulnerable individuals, as seen in March 2022.

To prevent this issue, consider submitting your reading a few days before or after the change; any discrepancies should be minimal.

Some energy companies also allow you to backdate your reading, which means you can take your actual meter reading on the designated day, jot it down, and then submit it at a later time.

How can it save me money?

If consumers provide an accurate reading just before the cap increases, their energy supplier will charge them based on the lower rates for any energy consumed prior to the change.

This practice can potentially save a household a considerable amount of money on their upcoming bills, especially if they have used a substantial amount of energy leading up to the price rise.

For instance, if the current energy price is £0.28 per kWh and the new price is £0.34 per kWh, a household that consumes 500 kWh in a month could save £30 simply by ensuring that their last month’s reading is counted under the lower price cap.

Consumers who submit their meter readings timely can also avoid potential disputes with their energy provider regarding billing inaccuracies later on.

What if I have a smart meter?

If your smart meter(s) is/are functioning correctly in smart mode and regularly sending readings to your provider, there's nothing you need to do, as this process happens automatically.

But it is a good idea to check that your meters are indeed transmitting readings. You can typically check this in your account or on your bill.

You could also consider taking a photo of your meters on the day to have a record of the readings for your own reference.

We’d love to hear from you! Have you submitted your meter reading yet, or do you have any tips to share about managing energy costs? Please share your thoughts and experiences in the comments section.