Before you start the countdown to the new year, there’s one more job to be done in 2023, taking gas and electricity meter readings.
Just when many people’s finances will be feeling the pinch in January because of Christmas spending, households across the UK will begin 2024 with a typical 5% increase in energy bills from the 1st of January.
The increase is because of the regulator, Ofgem, increasing the energy price cap to £1,928 a year for a typical household using gas and electricity and paying by direct debit.
If your on a smart meter the energy companies should have your readings automatically, but if you don’t have a smart meter fitted then the advice is to take a reading and a photo of the meter reading as close to the change over and submit to your energy provider to ensure you are not charged from what you have used on the lower rates with the new higher rates.
Money Saving Expert founder Martin Lewis recommended getting readings before the price cap increase on January 1 and urged households to take a photo of their meter reading in case, they can’t submit it to their provider on the same day.
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