Millions of households are being encouraged to read their energy meter before prices come down.

Gas and electricity prices will fall from Easter Monday thanks to a reduction in the energy price cap, which will cut the average annual bill by £238 a year for those on standard variable tariffs.

Thanks to a relatively mild winter and lower wholesale prices, the price cap will stand at £1,690 for the average sized home using an average amount of energy between April 1 and June 30, before prices are assessed again.

Consumer champion Martin Lewis – founder of the website Money Saving Expert - is among those advising homes to take a meter reading ahead of Monday in order to draw a line under winter’s higher rates.

He also advises emailing a time and date-stamped picture of the meter to yourself for extra ‘peace of mind’.

Comparison site Uswitch estimates that if 10million households neglected to read their meter by April 1 and were incorrectly charged a week’s worth of energy at the higher rate, they could risk overpaying by £44.6million in total.

The difference between a week’s worth of energy at March’s rates compared to April’s is £4.65 for the average household, it estimates.

Ben Gallizzi, energy expert at Uswitch.com, added: “We urge any households without a smart meter to submit their meter readings this bank holiday weekend, so their supplier has an updated – and accurate – view of your account on or around 1 April.

“This is when the next energy price cap comes into effect, which will see the rates that households on standard variable tariffs pay for their energy fall for April, May and June.

“If you delay submitting your readings, some of your energy usage could end up being charged under the higher rates we’re currently facing.

“All households without a smart meter should ideally submit a meter reading every month to improve the accuracy of their bills.”

The average household, suggests calculations by Uswitch will spend £127 on energy in April thanks to lower usage and a reduction in rates compared with £205 in March.