Latest news with #energyhike
The Sun
28-05-2025
- Business
- The Sun
Energy meter warning for 300,000 customers facing HUGE bill hikes due to major switch off in DAYS
AN ENERGY meter warning has been issued for 300,000 customers who face huge hikes to their bills due to a major switch off. Homes with electricity meters using the Radio Teleswitch Service (RTS) need to upgrade to a smart meter before June 30 - when the service is being switched off. 1 The switch off will mean that anyone who still has one of these meters could face their heating or hot water not working properly. Some of these systems also automatically turn the heating and hot water system on and off at different times during the day. So those who don't switch in time risk permanently blasting their heating during peak time. This could lead to huge bill hikes for those who don't meet the deadline. Suppliers have been racing to ensure that homes are fitted with smart meters before the June deadline. Octopus Energy warned thousands of its own customers at the end of January. Next urged 65,000 customers to take action to avoid being cut off, and 60,000 EDF customers have also been contacted to warn them of the deadline. Energy regulator Ofgem was forced to step in last year as energy providers had been initially slow with the roll out. The latest figures show some 392,000 households still have an RTS meter across Britain, according to The Mirror. Currently, suppliers are switching 1,000 RTS meters a day, but in order to meet its target of 400,000 homes this figure would need to rise to 5,000. A spokesperson for Energy UK told the outlet it would be "challenging" to replace the meters by June 30." They added: "It means getting access to every single property to carry out the installation, many of which are in remote areas, and ultimately it requires all customers to respond to contact from their supplier.' But many households may not even realise they have an RTS meter and need to make the switch. HOW TO TELL IF YOU HAVE A RTS METER One way to tell if you have a RTS meter is if your home has a separate switch box near your meter with a Radio Teleswitch label. Another sign is if you get cheaper energy at different times of day, for example, you might be on an Economy 7, Economy 10, or Total Heat Total Control tariff. RTS meters are also typically used in areas with no gas supply, such as for high rise flats or houses in a particularly rural setting, so if this applies to you it's worth checking your meter. If you're still not sure, contact your energy supplier and ask whether you have RTS equipment. They will be able to confirm for you. You will not be charged for upgrading an RTS meter to a smart meter as all electricity suppliers are required to offer this upgrade at no extra cost to customers. When you switch you may be offered a smart meter. These devices offer the same features as RTS in that they can record the different prices at different times of day offered by Economy 7 tariffs. It can help you save money as they help you avoid estimated energy bills as the reading are sent to your supplier automatically. The device can also help you track your energy use as you can see how much you're using and when you're using it. How do I calculate my energy bill? BELOW we reveal how you can calculate your own energy bill. To calculate how much you pay for your energy bill, you must find out your unit rate for gas and electricity and the standing charge for each fuel type. The unit rate will usually be shown on your bill in p/ standing charge is a daily charge that is paid 365 days of the year - irrespective of whether or not you use any gas or electricity. You will then need to note down your own annual energy usage from a previous bill. Once you have these details, you can work out your gas and electricity costs separately. Multiply your usage in kWh by the unit rate cost in p/kWh for the corresponding fuel type - this will give you your usage costs. You'll then need to multiply each standing charge by 365 and add this figure to the totals for your usage - this will then give you your annual costs. Divide this figure by 12, and you'll be able to determine how much you should expect to pay each month from April 1.
News.com.au
26-05-2025
- Business
- News.com.au
Energy price increases from July 1
New South Wales households are set to experience power price increases of up to 9.1 per cent from July 1. Queensland prices are expected to inflate by four per cent, three per cent in South Australia and up one per cent in Victoria. The Australian Energy Regulator is attributing the higher rates to a rise in wholesale energy prices. There are fears a failure to hit the 82 per cent renewable target by 2030 could contribute to annual price hikes.
