As energy prices continue to squeeze household budgets across Britain, millions are desperately seeking ways to reduce their soaring bills. Money Saving Expert founder Martin Lewis recently shared a deceptively simple tip that promises significant savings - and I decided to put it to the test.
The Game-Changing Advice That Takes Minutes
Martin Lewis's recommendation boils down to one crucial action: submit regular meter readings to your energy provider. While it sounds almost too straightforward to make a difference, the financial impact can be substantial.
"Many people are on direct debits where their provider estimates their usage," Lewis explained during a recent segment. "These estimates are often wildly inaccurate, leaving households either significantly overpaying or facing shock catch-up bills."
My Personal Meter Reading Experiment
Like many Brits, I'd been on the same direct debit amount for months, trusting my provider's assessment of my energy use. Taking Lewis's advice, I submitted accurate meter readings for the first time in six months.
The results were staggering. Within days, my energy provider recalculated my monthly payments, reducing them from £210 to just £156 per month - a saving of £54 monthly or £648 annually.
Why Estimated Bills Cost You Money
Energy companies typically estimate usage based on historical data and property type, but these calculations often fail to account for:
- Energy efficiency improvements you've made
- Changes in household occupancy
- Seasonal variations in energy use
- Your actual living habits and consumption patterns
How to Submit Your Meter Reading Correctly
Submitting readings is simpler than many people realise. Most providers offer multiple methods:
- Online accounts: Log in to your energy provider's website or app
- Telephone: Use automated systems to input readings
- Email: Some providers accept readings via email
- SMS: Text services for quick submissions
"The key is consistency," advises Lewis. "Aim to submit readings monthly, ideally around the same date each month to ensure accurate billing cycles."
Who Benefits Most From Regular Readings?
While all households can benefit from accurate meter readings, certain situations make it particularly crucial:
- Those who have recently moved property
- Households that have made energy efficiency upgrades
- People whose family size or working patterns have changed
- Anyone who hasn't submitted a reading in over three months
The Potential Savings Are Real
According to Money Saving Expert research, households that regularly submit meter readings typically save between £100-£200 annually by ensuring they only pay for what they actually use. In some cases, particularly where estimates have been significantly off, savings can be even more substantial.
One reader reported saving over £400 after discovering they'd been overpaying for nearly two years, while another received a £650 refund after providing accurate readings.
Don't Forget The Refund Possibility
If you've been overpaying through direct debit, submitting accurate readings doesn't just reduce future payments - it can also trigger refunds for overpaid amounts. Energy providers are obligated to return credit balances above a reasonable level.
As Martin Lewis rightly emphasises: "You shouldn't be giving energy companies an interest-free loan with your money."
With energy prices remaining stubbornly high, taking five minutes each month to submit meter readings represents one of the easiest ways to keep more money in your pocket. As my experience shows, the effort is minimal but the financial reward can be genuinely life-changing during this cost of living crisis.
