Although everyone needs to pay for their own energy usage, many of us may not know what we are actually paying for. It’s important to be aware of what you are being charged for and what you need to pay in standing charges. Having knowledge about your energy bills can help you reduce the amount of gas and electricity you use, ultimately saving you money.
Energy suppliers always do their best to ensure that your gas and electricity bills are as accurate as they can be, but unfortunately, mistakes can happen. There may be various factors that reduce the accuracy of your energy bills, such as inaccurate meter readings. Here is some more information to help you understand your energy bills better.
What Your Energy Bill Includes
Your energy bill will include various bits of information and they are relatively straightforward. Most energy companies should include the same details, but they may appear in a different order. Energy suppliers are required by the regulator, Ofgem, to make their energy bills simple, easy to understand, and transparent.
Here are the details which you can expect to be on your energy bill, whether it’s monthly or quarterly:
Contact Details – Your contact details along with your name and address are some of the standard bits of information that will appear on your bill.
The Name of Your Energy Plan or Tariff – This information should display the name of your current tariff. Due to the saturated market of tariffs, they may have similar names which might make it more difficult to pinpoint which one your tariff is.
Your Energy Consumption – Your energy bills should provide your energy costs from the previous 12 months. If you have recently switched suppliers, or have not been with a supplier for long, then the costs will be based on a shorter amount of time. In addition, your bills should also include an estimate of the costs for the next 12 months, based on your tariff and energy usage from the previous year.
Information About Cheaper Tariffs – Energy suppliers should include full details about discounts or premiums that may apply to your current tariff compared to the standard tariffs where the payment is made via direct debit.
Information about Switching – Energy companies should remind customers that they are able to switch, as well as advice on how they can switch. Although energy companies are not likely going to push this, they will more than likely tell you about their cheaper tariffs.
Additional Information about Bills
- Energy bills are measured using kWh as this unit of measurement explains how much energy you have used. Essentially, one kilowatt-hour (kWh) is the equivalent of 1,000 watt-hours. Unlike other bills, such as phone bills, using kWh enables you to see the price per minute and relate it to how much you are using.
- The terms ‘credit’ and ‘debit’ are often confused when it comes to energy bills. Although you would normally associate credit with something that you owe, in this case, credit means that you have paid extra on your bill. The term debit means that you owe the energy supply extra.
- Although your energy bill will remind you about switching and provide information about cheaper tariffs, it’s still a good idea to find and compare quotes yourself. This may help you find more favourable deals.
Compare Business Energy Online
If you’re looking for a new business energy deal or simply want to compare energy contracts online, then please fill out the business energy comparison form and leave it to our saving experts to find the most favourable deal for your business. In the meantime, if you have any questions or if you are unsure of what you are looking for, then please don’t hesitate to contact us.