Millions of British households could slash their energy costs by nearly £200 thanks to a crucial timing tip from Martin Lewis's Money Saving Expert team. With the energy price cap set to drop in April, taking a meter reading at the right moment could make all the difference to your wallet.
The April Price Cap Countdown
Ofgem's energy price cap is expected to fall significantly from April 1st, meaning lower rates for most households. However, energy companies need to know exactly how much power you've used before and after this date to bill you correctly.
Here's why timing matters: If you don't provide a meter reading around the changeover date, your supplier will estimate your usage, potentially charging you at higher rates for energy you've actually used after prices dropped.
How to Secure Your Savings
The Money Saving Expert team recommends taking a meter reading on or around March 31st - just before the new rates kick in. This simple action ensures your supplier has an accurate snapshot of your usage.
Three easy steps to save:
- Locate your energy meter - it could be in a cupboard, hallway, or outside your property
- Note down all the numbers shown, including any red dials or digital displays
- Submit this reading to your supplier through their app, website, or phone service
Why This Simple Action Could Save You £180
Industry experts estimate that households submitting accurate meter readings could save around £180 compared to those who rely on estimated bills. The saving comes from ensuring you're only paying the higher rate for energy actually consumed before April 1st.
Martin Lewis's team emphasises that this is particularly important for households without smart meters, as these automated devices may not always submit readings at the optimal time.
Don't Miss the Deadline
While energy companies typically allow a few days' leeway, submitting your reading as close to March 31st as possible gives you the best protection against overcharging. Most suppliers make the process quick and easy through their mobile apps or websites.
This simple five-minute task could be one of the most valuable money-saving actions you take this year, putting hundreds of pounds back in your pocket during the ongoing cost of living crisis.
