Submitting meter readings

Andrew_Ryan_89

Hey guys,

Girlfriend and I moved into our first property back in December and still getting used to things.

We currently pay £73 a month for our gas and electric. Initially we thought this was high but haven't questioned it because I now work from home so the house is occupied more than it was a few months ago. We have been asked to submit our meter readings and have been holding off in case we are charged more.

To be honest, I not too sure how it all works and wanted to know whether there was a way we could check whether it is worth submitting or not?

molerat

If you are using more then you will have to pay more at some stage. Have you got a big pot of money to pay a massive bill if one does turn up, can you afford a massive increase in DD if you do build up a large debt? Delaying putting in meter readings will only delay any change in payments that will have to be made at some time. If you have been asked to submit a reading then they want one to produce a bill. If you do not submit a reading they will estimate and may put the DD up anyway. Have you been taking regular readings and working out your use ? Regular readings are always worth submitting.

System

When you moved in, I assume that you gave your supplier actual meter readings? The contract you are on will be the supplier's most expensive tariff so you need to think about switching tariff with your present supplier or switching suppliers. Which supplier are you with? I give my two suppliers an actual meter reading each month to avoid any surprises.

[Deleted User]

Hi,

Andrew_Ryan_89 wrote: »

We have been asked to submit our meter readings and have been holding off in case we are charged more.

you will be charged for what you have used, so better to submit readings now, you will pay eventually.

You mention gas, so I assume you have gas central heating.

This will be your hardest period, Dec/now, using more heat.

You can check whether it is worth submitting or not by calculating your own usage since you moved in, take a reading now and work it out, but whatever, you pay for what you've used, eventually.

Why did you not take a monthly reading and work out usage costs, then you would know if £73 a month was enough?

backfoot

Yes submit monthly readings on the same day of the month. You should keep a history of them for yourselves. I find a simple spreadsheet the easiest and most useful way.

This is a big expenditure for the rest of your lives and you need to get to grips with it quickly.

The basics are that you will usually pay a daily standing charge for both gas and electricity. thereafter you are charged a 'per unit rate' for your actual usage of energy. Start to get familiar with this and work out your own costs on your spreadsheet. Don't forget VAT is added at 5%.

You need to understand what your annual usage is likely to be. An estimate at this stage will be fine and can be found on your current bills.

Immediately use this estimated annual usage to run a tariff comparison using a comparison website. There are many but I prefer USwitch. Make sure you ask for details of all available tariffs.

Run the comparisons for dual fuel. i.e with one supplier for both and electricity. Then retest the costs using separate Suppliers for each fuel.
The latter method is currently giving the best results.

Enjoy getting to grips with this and you will save a considerable amount which will free up spare cash for more important things for your new home and yourselves.

Good luck and let us know how you get on.:)

Norman_Castle

Andrew_Ryan_89 wrote: »

We currently pay £73 a month for our gas and electric. Initially we thought this was high but haven't questioned it because I now work from home so the house is occupied more than it was a few months ago. We have been asked to submit our meter readings and have been holding off in case we are charged more.

The £73 per month will be based on averages for your property type and occupancy. Nothing to do with you. You will be charged for what you've used regardless of when you pay. By sending a reading you will find out if you need to economise.

Bigphil1474

You need to know that your DD payment is not what you are being charged for gas and electric, it's to cover what they think you will use and will be offset against what you do use. If you use more than that, they will put your DD up for the remainder of the year to cover what you would expect to use in the remainder of the year plus anything to catch up from the last few months. Good news is, if you've used less than that, they could reduce your DD for the remainder of the year. Personally, I always get them not to reduce my DD - I prefer to be a bit in credit and like to pay the same all year round to help budgeting.