Households urged to submit energy meter readings ahead of price drop

finance
Created 6/29/2024
Updated 6/29/2024

Around 10 million households are urged to submit energy meter readings this weekend to avoid overpaying when prices drop on July 1. Ofgem is reducing the energy price cap by £122 to £1,568 annually for typical dual-fuel households. Missing meter readings may lead to bills based on higher previous rates. Uswitch estimates average July bills will be £83, down from £127 in June. Consumers should consider fixed tariffs to avoid future price hikes. Meanwhile, consumer groups and energy firms are urging Ofgem not to allow firms to shut out existing customers from their cheapest deals, citing concerns over "loyalty penalties".

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