Should I pay or should I get new bill

EdwardB

I got an energy bill, it being winter it was a huge hike, but what struck me was that it was about 45% over on the Gas and 43% on the Electric.

It seems to me that energy companies must know that if a property has gas they probably have gas central heating, they have read the meters before so they know there is no economy 7, yet they still feel it is ok to hike estimate of electric to 43% over the actual reading as well as the Gas.

So all moaning aside, I know I can call them, give them the readings and they will issue a bill for lower amounts (I have hardly used Gas this winter), but then I thought that might be a mistake.

They have not put up their prices (YET) and it occured to me that if I left it for another quarter it might be a way of getting energy at the old rate, or am I missing something.

If I credit my account, then a new bill comes I still pay the new exhorbitant rate that pathetic OFGEM seems to let ride despite saying no need for a tariff rise at the end of January.

However, if the reading is just wrong, will I be able to give them a high reading the day before the price rise and get energy at current rate?

The reading would be correctly read next quarter and by then they will make an adjustment and probably issue me with a low bill.

Is this some fantastic new way of saving money?

To muddy the water, I am probably going to leave them. I do not want to be in credit with them so this would mean delaying the move.

If you read the emails from Martin you would think "the Sky is falling" but do energy prices ever go down?

Seems like these companies have a licence to stick it to us time and time again, the best we can do is grab our ankles and think of England!

CashStrapped

Energy Prices had been going down for the last 5 years. Last year was my cheapest energy bill for a long...long time....(slightly helped by a mild winter/s too).

Unfortunately we hit the bottom and we all forgot how high prices used to be....

Prices are now going up, and are not likely (especially electricity) to be going down any time soon. My bills for the coming year will probably be 25% more than last year in one brief tariff change.

Regarding your meter reading scenario. If you just leave it and allow them to estimate, when the date comes for your tariff to end and/or the prices go up, they will indeed estimate that too. This will continue to you have an actual meter reading (or the meter person comes), at which point you will get a redress bill. Probably at that new rate (as you say).

So, if they have over-estimated it in your favour, then....yes you will have benefited from this.

It is one of those moral gray areas I guess.

The bigger question is....why are you on a standard tariff (I am inferring this from your post)?

The extortionate rate is because it is their standard tariff! Ofgem are not making you stay on that tariff.

If you compare and switch you may be able to save a huge amount more than benefiting from an over estimated bill on a terrible rate.