UK households urged to check meters before price cap change

UK households are advised to check their meters ahead of an upcoming energy price cap change on Sunday, with standing charges set to rise

Money saving expert Martin Lewis has issued a warning to households, encouraging them to take an energy meter reading before the forthcoming price cap adjustment this Sunday.

While bills are expected to see a slight reduction, it may not be as significant as initially anticipated.

Speaking on ITV’s Good Morning Britain, Mr Lewis said: “We’re actually going to see the standing charge, that poll tax that we all pay just for having the facility of gas and electricity, going up by around 1%.

“A complete mistake by Ofgem, the regulator. It should not be doing this.

“I don’t understand why it wants to do this. It’s incredibly unpopular and I think it is a real moral hazard to charge the lowest users such a great fee for using energy. But it’s doing that. I will continue to campaign against it.”

Mr Lewis explained that the price of electricity will see a reduction of around 9%, while gas prices will decrease by approximately 8%. On average, this translates to a 7% reduction in bills.

Martin Lewis explained: “But it’s worth noting lower users get less of a drop, higher users get more of a drop because of the way they’ve structured it by putting standing charges up and putting unit charges down.”

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