Fuel and electrical energy payments for round 22 million households throughout Scotland and the remainder of the UK will improve by £693 from April 1st.
The upcoming rise of 54 per cent means the typical family vitality invoice will soar to an eye-watering £1,791 per yr whereas houses on prepayment meters will see prices go up by £708 to £2,017 - and they're anticipated to go up once more when Ofgem evaluations the worth cap in August, with the change coming into impact in October.
Nevertheless, the crew at MoneySavingExpert.com have shared a intelligent - and completely authorized method - for these utilizing a prepay meter to delay the worth cap via a ‘loophole’ which can work for gasoline or electrical energy top-ups not utilizing a sensible meter.
They've additionally highlighted the pressing want for everybody to start out taking common meter readings, particularly this month.
We’ve summarised the need-to-knows beneath and you'll learn the complete particulars on the MoneysavingEdpert.com web site right here.
Prepayment meter loophole
Many individuals with older, non-smart prepayment meters, who're nonetheless utilizing keys and playing cards to high up and on a price-capped tariff, can legally 'stockpile' gasoline and electrical energy credit score earlier than costs shoot up on April 1.
Cash Saving Professional defined: “The charges will not change till the primary time you high up following a worth change, so any credit score you've got added earlier than then can be charged on the outdated charges.
“In case you have a sensible prepayment meter, this gained’t work as these meters are up to date remotely with the brand new charges on the day of a worth change.”
All you could do is high up as a lot as you may afford as much as the bounds of the meter earlier than April 1.
It will work for all vitality suppliers, besides Scottish Energy - the complete record is right here.
Cash Saving Professional additionally checked with Ofgem, who stated this trick ought to work.
An Ofgem spokesperson stated: "Good prepayment meters replace costs robotically - so topping up upfront wouldn't make a distinction. With non-smart prepayment meters, the worth clients pay is fastened on the level they top-up.
"Which means any constructed up credit score is spent primarily based on the worth of vitality at which that credit score was bought. So a worth improve might briefly be prevented by increase credit score upfront, although this might additionally work the opposite method if the worth went down."
Begin doing common meter readings
The buyer web site is urging everybody to do these regularly, particularly on March 31 - earlier than the worth hike kicks in.
It warns: “Do not depend on estimated use - until you've got a sensible meter that does it for you, be certain that your meter readings are updated when the worth cap adjustments on 1 April.
“That is to make sure you're not paying for greater than you could on the greater price (as in any other case the agency will attempt to calculate what was used earlier than and after).”
£150 Council Tax vitality rebate replace
Cash Saving Professional is advising everybody in England and Wales to arrange a Direct Debit now to make sure the cash is transferred robotically to their checking account in April.
When you do not set one up, your native council will ship you particulars on the right way to declare it.
Scottish councils will have the ability to resolve whether or not to provide households the £150 as a money cost or credit score off Council Tax payments - the complete particulars haven’t been launched but.
The help will apply to these in council tax bands A to D, plus these eligible for Council Tax reductions, some 1.85 million Scots households will obtain the help.
Households can be paid robotically - you do not want to use.
The Scottish Authorities hasn’t supplied a particular date for when the cash can be distributed however stated households will obtain funds in April.
Vitality tariffs - stick or swap?
Earlier this week, the founding father of the patron web site, Martin Lewis, shared a 10-minute video on social media and YouTube sharing essential updates on vitality tariffs and whether or not clients ought to be locking into a set deal proper now or nonetheless “do nothing”.
Martin defined: “A few of you may be fortunate sufficient to nonetheless be on an inexpensive repair from earlier than this all occurred. If that's the case, simply keep it up for so long as you may, as a result of vitality costs have elevated a lot that you're going to be paying method beneath what you would be paying if you happen to moved wherever else.
“Even the thought of transferring shortly to attempt to bag a cut price is simply not price it, so stick in your low cost repair for now."
He continued: "This brings me to the subsequent difficulty, the massive query, do you have to be trying into a set tariff proper now?
“The rule of thumb is that this; I might not swap to a set deal until it was lower than 75% greater than the present worth cap, or if you wish to base it on the April worth cap, not more than 15% greater than the April worth cap.
"So if you'll find a repair inside that worth vary then it's price getting. However you'll not discover these costs on a comparability website. There are not any open market choices near that worth - they're all 40% greater than the April worth cap on the very most cost-effective.”
You possibly can watch the complete video on the MoneySavingExpert.com web site right here.
You too can signal as much as the weekly MoneySavingExpert.com e-newsletter right here.
To maintain updated with the vitality disaster be part of our Cash Saving Scotland Fb group right here, comply with Document Cash on Twitter right here, or subscribe to our twice weekly e-newsletter right here.