British Gas, Ovo and Octopus customers must act before Tuesday

Failure to take one simple step could see millions of customers overpaying a total of £186million

Nearly ten million households risk overpaying on their energy bills by a collective £186 million if they delay submitting a meter reading before October 1, research by Uswitch.com, the comparison and switching service, has found. To avoid the higher price cap which comes into effect on October 1, households on standard variable tariffs (SVTs) who don’t have a smart meter should record and submit their meter readings before Tuesday.

The average household on an SVT with typical usage is expected to spend £55 on energy in September, compared with £135 in October. The rise is down to a combination of higher rates and increased usage at the start of autumn.

Those on SVTs without a smart meter who fail to submit meter readings on or around 1 October risk having some of their usage estimated and possibly charged under the new higher rates. The difference between a week’s worth of energy at October’s rates compared with September’s is £18.81 for the average household. Therefore, if those ten million households didn’t submit a reading by October 1 and their usage was estimated, just a week's worth of energy at the more expensive rates could see them overpaying by £186 million in total.

Households which haven’t recently submitted a reading say it’s because they do not know how to read their meter, or do not know where their meter is.

Industry analysts Cornwall Insight suggest energy rates will rise again in January, meaning the average home with typical usage could pay £1,762, a 3% increase on the autumn rates. A fixed tariff could help households avoid peak winter rates and give financial stability for at least a year. Some of these deals are up to 7% below the predicted October price cap.

Uswitch.com is urging households to submit a meter reading this week and compare energy tariffs to see if there’s a better deal worth switching to before the price hikes in October.

Ben Gallizzi, energy expert at Uswitch.com, said: “With energy prices rising next week, it’s vital that households submit a meter reading, with a £19 difference between the cost of a week’s energy at September’s prices compared with October. Customers who don’t have a smart meter should aim to submit their readings before or on Tuesday 1 October, so their supplier has an updated – and accurate – view of their account.

“If you delay submitting your readings, some of your September energy usage could end up being estimated and therefore charged under the higher October rates. Try making this task a monthly habit for billing accuracy. Households are also advised to see whether now is the time to change their energy tariff, to beat the October price hikes.

“There are a number of fixed tariffs worth considering right now. By opting for a fixed deal, you’re locking in those rates for the duration – usually 12 months – which means households could have price certainty and avoid the ups and downs of the price cap.

“You can check your options by running a comparison at Uswitch.com, where you’ll be able to see available tariffs with personalised costs based on your household consumption.”

Uswitch’s checklist to keep energy bills as low as possible:

CHECK: Check your meter readings are up to date. If you don’t have a smart meter, submit your latest readings on or around 1 October to ensure you’re charged the correct amount for the gas and electricity you’ve used. You should regularly submit meter readings to avoid over or under paying on your bill. Don’t know how to read your meter? Check out this Uswitch guide.

TRACK: Track your usage. It’s worth monitoring how much energy you’re using by downloading the free Uswitch app. The app connects to your smart meter and offers regular insights into your household energy usage and handy energy-saving tips.

CHANGE: Change your energy tariff. Is it time to switch? Energy rates will rise from October, so now’s a great time to assess your options and lock in lower rates. There are a number of reasonably priced fixed tariffs on the market right now, so run a comparison at Uswitch to see the range of tariffs.