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Do you always submit your meter readings?

jadex91
jadex91 Posts: 198 Forumite
Tenth Anniversary 10 Posts Combo Breaker
Or could the estimated readings be cheaper? Thanks
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  • Jadex91 wrote: »
    Or could the estimated readings be cheaper? Thanks

    It's best to submit accurate readings to bring your account up to date. The estimated readings are just that, estimates that will be corrected periodically once an actual reading is taken.

    If you rely on the estimates, you might get hit with a surprise bill if you end up using more than estimated in one quarter.
  • System
    System Posts: 178,185 Community Admin
    10,000 Posts Photogenic Name Dropper
    Jadex91 wrote: »
    Or could the estimated readings be cheaper? Thanks

    A bill based on estimated readings could indeed be cheaper - or a lot more in the short term. You might get away with it for up to 2 years; however,.....


    Estimated or incorrect meter readings

    Suppliers are required to read and inspect your meter(s) at least once every two years, although some suppliers may visit more frequently.

    On the day that your meter/s are read, the energy company will do a simple present minus previous actual meter reading calculation times your tariff and bill you accordingly for any unpaid balance.
  • JJ_Egan
    JJ_Egan Posts: 20,281 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    As above all you are doing is putting off the true payment due .
    You could have low estimated bill of say £80 per month but once the meter is read you get a bill £500 that balances the account .
  • TBagpuss
    TBagpuss Posts: 11,226 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I've always found the estimated reading to be on the high side. The only time I ever had estimates lower that then true reading was after my house was flooded, and I'd have heavy duty fans, dehumidifiers and extra heaters working solidly for several days.

    However, if asked for a reading you can always take the reading and not submit it, and then check against the estimate.

    However, as others have said, this only delays having to pay and since you don;t know when they may do a proper reading, you could get hit with a big bill at a bad time.
    All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)
  • Nada666
    Nada666 Posts: 5,004 Forumite
    Since estimates are (usually) over- and prices are (usually) going up then, yes, not submitting readings more often works in the customer's favour.

    But the savings of regularly being on a cheapest fixed deal completely overshadow the few pennies saved from estimates in your favour.
  • Stupid question to be honest. The estimates are only as good as the last actual so give them meter readings and pay for what you have used, otherwise you will never know until the meter is read if you have overpaid or underpaid.
  • Scrounger
    Scrounger Posts: 1,057 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Stupid question to be honest. The estimates are only as good as the last actual so give them meter readings and pay for what you have used, otherwise you will never know until the meter is read if you have overpaid or underpaid.
    You could always read the meter yourself and compare with the with the estimated readings.

    I like estimates as they can sometimes allow you to skew your meter readings prior to entering a fixed deal or when changing supplier. :beer:
    Scrounger
  • Hi,
    Jadex91 wrote: »
    Or could the estimated readings be cheaper? Thanks

    estimated readings are good, as long as they are over estimated, which means you are paying more, so when an accurate reading is supplied you should be in credit.

    You pay for what you use.
  • matelodave
    matelodave Posts: 8,768 Forumite
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    edited 2 November 2014 at 4:52PM
    Nada666 wrote: »
    Since estimates are (usually) over- and prices are (usually) going up then, yes, not submitting readings more often works in the customer's favour.

    But the savings of regularly being on a cheapest fixed deal completely overshadow the few pennies saved from estimates in your favour.
    Not sure how you come to that conclusion - most of the problems people have with their bills & payments is because they don't correct or check their bills and then suddenly get a ginormous bill because they've been happily oblivious of their consumption and accepted estimates.

    It's much better to have accurate bills based on what your are using. You can then make sure that you are neither under or over paying.
    I can't see how under estimating readings benefits you at all - you end up having to pay for what you've used so you might as well get it right and done with
    Never under estimate the power of stupid people in large numbers
  • Same advise as above give regular meter readings. Trouble is MSE or other switch sites don't tell you if what is owed is displayed by the provider on entering your readings. Previously I've been with E.ON and M&S Energy and both tell you straight away whats owed when you enter your readings.

    My new supplier First:Utility doesn't. However, after the first three months they ask for a reading each month and then bill you which is good.
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