Consumer champion Martin Lewis has issued an urgent warning to millions of UK households, urging immediate action to prevent substantial overpayments on energy bills as prices are set to increase this spring.
The founder of MoneySavingExpert.com revealed that energy regulator Ofgem is lowering the price cap from April 1st, but there's a crucial catch that could cost unprepared families hundreds of pounds.
Why The April Deadline Matters
While the new price cap will reduce average annual bills to £1,690, down from the current £1,928, the transition period creates a financial trap for consumers who don't submit meter readings around the changeover date.
"The price you pay is based on when you use energy, not when it's billed," Martin Lewis explained during his recent appearance on ITV's Good Morning Britain.
The Meter Reading Countdown
Households should aim to submit meter readings between March 28th and 31st, ideally on March 31st itself, to ensure accurate billing during the price cap transition.
Lewis emphasised: "If you don't give a meter reading, they have to estimate. And if they estimate, they'll assume you've used more at the higher rate than you have."
Who Needs to Act Fast?
- Customers without smart meters
- Those whose smart meters aren't functioning properly
- Anyone wanting to ensure 100% billing accuracy
- Households looking to maximise savings during the price change
Smart Meter Advantage
For households with properly working smart meters, the process is automatic. These devices transmit readings directly to suppliers, eliminating the need for manual submissions and protecting against estimation errors.
However, Martin Lewis cautioned that many smart meters experience "first-generation functionality issues," meaning manual readings might still be necessary for some customers.
How to Submit Your Reading
- Locate your electricity and gas meters
- Note down the numbers exactly as shown
- Submit via your energy provider's app, website, or phone service
- Take a dated photograph as evidence
This simple process takes mere minutes but could save the average household significant amounts by ensuring they only pay higher rates for energy actually consumed before April 1st.
With energy costs remaining historically high despite the upcoming reduction, Martin Lewis's warning highlights how proactive measures can deliver meaningful savings to households struggling with the ongoing cost of living crisis.
