Recent changes in the energy market could mark the end of estimated bills. Customers have more control over their energy consumption, and what they are paying.
The introduction of clever gadgets like Smart Meters and Energy Monitors keep a real time track of energy usage. And our energy suppliers continue to launch their best discounted online tariffs enticing us to save more and improve the way we manage our energy.
A better understanding of the amount of gas and electricity you use will no doubt help you reduce the amount you waste, which will lower your energy bills. Other benefits include clarity on how much it is costing and only paying for what you use. This is where estimated bills from suppliers become unnecessary. So what are estimated bills?
An estimated bill is issued if your meter is unread, and based on a forecasted usage amount. It then gets adjusted accordingly after the next meter reading. This is of no benefit to suppliers or customers, because many are left dealing with discrepancies and rebates. Accurate bills are a welcome change to customers and suppliers alike.
Smart Meters and Energy Monitors are paving the way to smarter domestic energy management and eliminating the need for estimated bills. Let’s review them in more detail.
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Smart Meter
It works by transmitting your homes energy usage direct to your supplier. It replaces your existing standard meter so will need to be professionally installed. Electricity figures are usually sent every half hour and gas on a daily basis. An obvious advantage is no need to read and submit your meter readings. Accurate billing and the ability to monitor what you use online are other clear benefits.
There are some disadvantages. Although the government unveiled plans earlier this year to roll out Smart Meters to every UK home by 2020, getting hold of one sooner can be costly. There is good news though, suppliers like First:Utility are installing them for free with their Smart Tariff.
Smart Meters are also fixed to an address, therefore if you move you could not simply take it with you. Instead you would have to get another one installed. It is also easy to take your eye off your energy usage, because the data is being fed directly to your supplier.
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Energy Monitor
You can attach this device to your existing meter with a clip, so there is no need to get it installed professionally. You can also take it with you to your next home.
It works by transmitting your electricity consumption to an LCD display which can be conveniently placed anywhere in your home. For those who want immediate access to their figures, there’s even an option to wear it round your neck.
An Energy Monitor guarantees accuracy because it works in real time, and you have constant visibility of what you are using and what it is costing.
It has a disadvantage that it still requires regular meter readings to be submitted to your supplier; otherwise you will receive an estimated bill. Keeping on top of your meter readings is not all bad, because it means you have to keep an eye on our energy consumption – a good habit to get into!
Energy suppliers like British Gas are helping with products like EnergySmart which comes with a free electricity monitor, and reminders for when your meter reading is due.
If used properly, with Smart Meters and Energy Monitors we are likely to see the back of estimated bills.
This review highlights the main points about each, but choosing which one is best for your circumstances does require some further research. Try energy advisory websites like energysavingtrust.org.uk for straight forward answers, or contact your energy supplier directly. Also bear in mind that some suppliers are offering Smart Meters and Energy Monitors free with certain tariffs, so it might be worth making the switch. Compare the latest deals online using websites like confused.com.
Sources:
http://www.first-utility.com/residential-energy/frequently-asked-questions/your-smart-meter-0
http://news.bbc.co.uk/1/hi/8042716.stm
http://www.britishgas.co.uk/products-and-services/energy/our-products/energysmart.html
http://www.confused.com
http://www.energysavingtrust.org.uk
