Martin Lewis was back on TV this week in a cost of living special edition of his award-winning Money Show Live. His main focus was on energy and the upcoming energy bill increase which is set to begin on October 1.
To circumvent the eye-watering price cap predictions of nearly £4,000 that were due to come into force next month, the UK Government announced a new £2,500 Energy Price Guarantee, effectively creating a new cap until 2024. This doesn’t mean it’s the maximum someone could pay for gas and electricity bills and the consumer champion was quick to point out that the more you use, the more you’ll pay, similarly, use less and you’ll pay less.
One important area he focused on was taking energy meter reading next week, on or before September 30. Earlier this year Martin’s advice for ‘Meter Day’ in March effectively crashed firm’s websites and phone lines as energy customers raced to get their reading in before the April price hike kicked in - but this time he’s urging people to take a different approach.
Martin told viewers to think of it as ‘meter week’ and explained why it needs to be done before the new cap starts.
He told ITV viewers: “If you pay by Direct Debit, firms estimate your usage - 90% of you do pay by Direct Debit - and they also estimate when it’s used so if you don’t want them to assign more of your unit to the more expensive period, you stop that by submitting a meter reading.”
Martin also suggested taking a picture when you do it too so that you’ve got evidence if you need it later on.
He continued: “That way, there’s no estimate and there’s no discrepancy - this just makes it fair.
“But I would say let’s not call it ‘Meter Reading Day’ any more, let’s switch to ‘Meter Reading Week’.”
Martin added that there’s no problem taking your meter reading a few days before September 30. He said: “It makes very little tangible difference.”
He also explained how you don’t actually need to submit your meter reading on the day.
Martin explained: “Most firms will let you submit it afterwards and backdate it.”
The founder of MoneySavingExpert.com then shared the meter reading submission cut-off dates by energy firm for September.
British Gas
- Up to 14 days after you take the reading, so if you take it on September 30, you need to submit it by October 14.
Bulb
- Up to 3 days after you take the reading, so if you take it on September 30, you need to submit it by October 3.
E.on
- Up to 5 days after you take the reading, so if you take it on September 30, you need to submit it by October 5.
EDF
- Up to 7 days after you take the reading, so if you take it on September 30, you need to submit it by October 7.
Octopus
- Up to 7 days after you take the reading, so if you take it on September 30, you need to submit it by October 7.
Shell
- Up to 30 days after you take the reading, so if you take it on September 30, you need to submit it by October 30.
Ovo and SSE
- If you take your reading on or before September 30 and don’t submit it online or via the app by that date, you’ll need to call them with it after October 1.
Scottish Power
- No details given.
However, not everyone will need to take a meter reading.
Martin explained that people with a working smart or pre-pay meter do not need to bother taking readings, but suggested taking a picture of your screen on September 30 - just in case.
You can find more detailed information about meter reading on the MoneySaving Expert.com website here.
And if you missed The Martin Lewis Money Show Live Cost of Living Special, you can catch-up on the STV or ITV Player.
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