Understanding your utility bills/energy bills explained
Energy and other utility bills can often be confusing. Sometimes, it is difficult to find out the exact information that you are looking for, especially if you are comparing tariffs or looking to switch to a renewable energy source, such as a solar panel system to power your home.
The average monthly or quarterly energy bill will always include the following:
Tariff name – The first thing to look for is the tariff name. This highlights the type of tariff that you are currently on. This is needed should you be using a comparison website to compare prices of different tariffs from different energy providers.
Estimated usage – Every supplier will include your estimated usage for the last 12 months and the cost of that usage. In order to only pay for the exact amount of energy that you’re using, make sure to submit regular meter readings or have a smart meter installed.
Total kWk used – Here are the figures relating to your actual electricity consumption over the past year. This is the most accurate figure and an important piece of information to have when searching for other energy suppliers to switch to.
Total units – This shows the total units (100s of cubic feet) for your annual gas consumption and again, is the information needed when looking for a favourable supplier switch.
Estimated future costs – Based on your usage over the past 12 months, your bill might also include a prediction of your costs over the coming year assuming you stay on the same tariff and use the same levels of energy as the previous year.
Contract information – This could include the exact terms of your current tariff and contract, including any exit fees and end dates of promotions and the contract itself. You should also be made aware of any discounts or premiums associated with your tariff when compared with standard tariffs.
How to switch – Your energy supplier must include a polite reminder of the right to switch supplier and how to begin that process should you wish to do so.