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The Money Saving Expert has warned millions of people to submit their energy meter readings by the end of the month.

The energy price cap drop is set to take place on Saturday, July 1 – and Martin Lewis says people should take meter readings to stop their supplier estimating how much energy they’ve used.

The price cap will drop from £3,280 to £2,074, meaning that the annual bill of a typical household should drop by around £450 a year.

But if you don’t send regular readings suppliers will estimate your usage, meaning you could end up paying too much – or too little.

Speaking to Good Morning Britain, Martin Lewis said: ‘It’s meter reading week.

‘On July 1 we see prices drop an average of 17% – the effect is you’ll drop more than that if you’re a high user who uses a lot of gas, you’ll drop less than that if you’re a low user.

‘The reason is if you are on a monthly direct debit and don’t have a smart meter you should be doing a meter reading sometime around the next week.

‘If not, your bill will be estimated which bit came at the higher rate and which bit came at the lower rate and that could move against you.

‘So you get a meter reading done at the moment and it says “well everything before this point is at the higher rate, everything after this point, roughly, should be at the lower rate”, and it just makes sure, if there is a discrepancy, it doesn’t go against you.’

This advice only applies to people with a standard meter – as people with smart meters don’t need to submit readings.

For more information on when and how to take and submit a meter reading, click here.

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