NEWS

Millions of people warned to check their energy meter readings after price hike

Analysts have warned that higher rates exacerbated by the ongoing conflict in the Middle East are likely to hit consumers until at least the winter.

Millions of people warned to check their energy meter readings after price hike

Analysts have warned that higher rates exacerbated by the ongoing conflict in the Middle East are likely to hit consumers until at least the winter.

Bill payers not on a smart meter are being urged to submit a reading now to avoid being charged a higher price for their previous consumption.

Chancellor Rachel Reeves hinted she could provide means tested support in the autumn, although her job is uncertain in an incoming Andy Burnham cabinet.

However experts warn that future rates are dependent on the deal struck between the US and Iran over the Strait of Hormuz, the critical chokepoint which usually handles 20% of the world’s natural gas.

Craig Lowrey, principal consultant at Cornwall Insight, warned that even in the best case scenario the impact of the war would be felt for some months to come.

From today, a household using the typical amount of gas and electricity can expect to pay a further £18 a month, as Ofgem’s price cap increases.

However the regulator has also revised down its definition of ‘typical’ consumption due to changing household habits and better energy efficiency, the BBC reported.

Some 33 million homes are covered by the price cap, which does not affect those on fixed rates, approximately 40% of British households.

British energy suppliers were owed a total of £4.79billion by consumers by the end of March this year.

National Energy Action said the recent heatwave underlined the need to improve the energy efficiency of properties and debt relief for those who fall behind in their payments.

Schemes are offered by suppliers to help those who are finding it difficult to pay.

Consumers also being warned to stay aware of scams such as fraudsters posing as government or energy firm officers.