Energy price drop

Photo of a man reading an energy meter.

From 1 April 2024, household energy prices will be going down by around 12%. Our Energy Advice Officers have shared the following tips to help you get on the new reduced pricing straight away.

If you have a normal meter

To take full advantage of the price reduction, take a reading on Monday 1 April 2024 and submit your meter reading that same week. This will mean you’ll be billed correctly on the cheaper pricing straight away. This includes Direct Debit, monthly and pay quarterly customers.

If you have a smart meter

The change should happen automatically. However, if you have a smart meter that is not commissioned (ie not sending readings back) then please follow the above advice for normal meters.

How do I know if my smart meter is operating in smart mode?

You can use the C.A.B. tool online to check whether your gas and electric meters are operating in smart mode. You’ll need your postcode and energy meter numbers (MPRN/MPAN) which can be found by taking the following steps:

  1. To find your Gas MPRN: This will be shown on your gas bill and is between 6-11 digits long. Alternatively you can use Find My Supplier.
  2. To find your Electric MPAN (or supply number): This will be shown on your electricity bill, usually as two rows in a grid. It’s the numbers in the bottom row that you’ll want to take a note of.

If you have a prepayment meter

If you have a traditional card and key prepayment meter, it’s important to top up on Monday 1 April 2024 (but not before!) with at least £1 on each meter. This will load the new pricing straight away, it’s that simple.

Should I fix my tariff?

We are now seeing more one- and two-year fixed deals appear, however these should be approached with caution. Current advice is that unless you can fix at 18% less than the current (January to March) price cap, it’s predicted you’ll pay more than staying on the price cap. You can find more information to help you make your decision here: Is it time to fix your energy or stay on the price cap?

Please also note that energy prices are predicted to go down a further 13% on 1 July 2024, and rise by 4% on 1 October 2024, so be careful about fixing.