Estimated Readings

[UncleEbenezer]

I daresay many Fools have at one time or another shared the pain of nonsensical meter readings from our utilities, and their inability to listen.

Today I have quite the opposite. A bill from southwest water for just over six months. It was set initially based on the fact that they had supplied my previous address, and I told them I anticipated no significant change to my usage.

Estimate for May 31st: **279.
Actual just five minutes ago: **280.

Sometimes one really can't complain!

[bungeejumper]

At the moment, I resist every invitation I get from my power company to give them my current meter readings so that they can adjust my monthly direct debits into line with my actual consumption.

Why? Because I started my twelve month contract in the late autumn, and we've just gone through the most expensive period of the year (winter and spring). So if the company annualised my consumption levels from those heavy periods, it would conclude that I was using much more fuel per annum than I actually am, and I'd end the year having grotesquely overpaid them.

Conversely, if my contract year had started in the summer months, I'd have been more than keen to give them regular autumn updates because my low usage would be likely to flatter the picture. And although either approach would head toward a settling-up process at the end of the 12 month contract, I'd rather have a £300 debit on my tally than a £300 credit. Why should I lend them £300 for six months, dammit?

BJ

[dealtn]

At the moment, I resist every invitation I get from my power company to give them my current meter readings so that they can adjust my monthly direct debits into line with my actual consumption.

Why? Because I started my twelve month contract in the late autumn, and we've just gone through the most expensive period of the year (winter and spring). So if the company annualised my consumption levels from those heavy periods, it would conclude that I was using much more fuel per annum than I actually am, and I'd end the year having grotesquely overpaid them.

Conversely, if my contract year had started in the summer months, I'd have been more than keen to give them regular autumn updates because my low usage would be likely to flatter the picture. And although either approach would head toward a settling-up process at the end of the 12 month contract, I'd rather have a £300 debit on my tally than a £300 credit. Why should I lend them £300 for six months, dammit?

BJ

It doesn't work like that. At least it shouldn't, and doesn't with my supplier. Their system doesn't assume a linear consumption pattern. (It does get confused by the existence of a swimming pool boiler that operates in the Summer only though!)

[Hypster]

I once switched during the Autumn and EDF became very annoying with the direct debit level.

All other providers I've been with set the monthly direct debit based on annual consumption, averaged over the year. This meant the usage exceeded payment during the winter months, and vice versa during the summer months. On the anniversary of switching, my account was up to date.

With EDF though, a couple of months after switching they got panicky and doubled my direct debit because my monthly payment wasn't covering the usage. Then six months later they sent a refund of a few hundred pounds and reduced the direct debit to half the original amount. Then they hiked it again as winter approached.

I know I could have phoned them an argued the point about keeping the level the same throughout the year but I couldn't be bothered. I used the time and effort to switch to someone else instead.

[Rhyd6]

Friends of ours are still waiting for an electricity bill 20 years after moving into their house. The meter reader turns up on a regular basis, they explain that the company don't seem to know they exist, meter reader departs assuring them that all will be sorted and still nothing happens. They have a huge folder full of correspondence relating to this, promises to sort everything out are legion but zilch, nada, nowt. A few years back I posted on DAK to ask if they would be hit with a huge bill but, at the time, I was told that the company could only go back 12 months if every effort had been made by the houseowner to resolve the problem. Hope this is still the case.

R6

[malkymoo]

Why should I lend them £300 for six months, dammit?

BJ

My supplier, Ovo, gives 5% interest on credit in my account. Try getting that elsewhere!

I suppose I do run the risk of them going bankrupt, but they do seem to be pretty solid.

[Stompa]

My supplier, Ovo, gives 5% interest on credit in my account. Try getting that elsewhere!

But I'd need to maintain a balance of £5500 in order to compensate for the fact that their energy is pretty expensive these days, and I'd hazard a guess that they might not be happy with that!

[sunnyjoe]

I have a smart meter so I never have to provide readings.

I have heard others say they don't like smart meters but my electricity costs have halved since signing up for Octopus Agile. They charge a different price for every half hour of the day, linked to the wholesale price of electricity by a simple formula. Because I take the risk of market variability rather than the supplier, they can afford to give me low average prices.

A couple of weekends ago the prices went negative for 12 hours with a minimum of -10.78p/kWh and an average over the whole Saturday of -0.78p/kWh. This was extreme but the average savings have been very good.

I expect to make bigger savings when my electric car arrives and I hook it up via a smart charger which can take advantage of the variable prices

[richlist]

Yes I agree Octopus Agile looks good.
I'm already with Octopus but can't get that tariff yet cos I have to wait until they can fit me a smart meter. Was scheduled for end of March but got cancelled due to the lockdown.

[malkymoo]

My supplier, Ovo, gives 5% interest on credit in my account. Try getting that elsewhere!

But I'd need to maintain a balance of £5500 in order to compensate for the fact that their energy is pretty expensive these days, and I'd hazard a guess that they might not be happy with that!

You may be right, have not had a look recently. When I took out a new contract nearly two years ago they were not the cheapest, but not by so much as to be worth the hassle of moving.