35% of people dont understand their energy bills we explain the key terms

Date:
Fri, 10 Sep 2021 15:50:13 +0000

Description:
Energy bills were voted as the nations most confusing, followed by council
tax and water bills

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New research from green energy supplier Bulb has revealed that many Brits do not understand key terms on their energy bills. In particular, it has
revealed that a quarter of Brits under 35 still turn to their parents for
help understanding them.

As a result, more than half of Brits (52%) believe that they need more resources from their energy supplier in order to help them properly
understand their bills. In addition, the survey revealed that almost one in five Brits (17%) have never checked their energy meters and one in ten have never checked whether theyre on the best tariff. Start saving on your energy bills today: See the best deals in your area now The language of bills confuses millions

Despite kWh (kilowatt hours) being key to a customers spending, 19% of those surveyed said they didnt understand the term. This equates to nearly 13 million adults in Britain.

However, other common terms used on bills are also deeply misunderstood. 23% of respondents said they didnt know what CV (calorific value) was and 19%
were unsure what the term tariff meant.

The top five misunderstood terms were: Calorific Value (CV) Meter point administration number (MPAN) Meter point reference number (MPRN) Kilowatt
hour (kWh) Actual reading What the key terms mean

If youre trying to save money on your energy bills and reduce your carbon footprint, then its vital that you understand the information on your bill.
To help, heres a guide to each of the five key terms:

Calorific value - This is a measure of the available heat energy. It varies from day to day and region to region.

Meter point administration number (MPAN) This is a unique number for the electricity meter in your property. Its sometimes called an Electricity
Supply Number.

Meter point reference number (MPRN) Similar to your MPAN, this is a unique number for your gas meter.

Kilowatt hour (kWh) A kWh (kilowatt hour) counts as a unit of energy. To calculate your bill, your energy use in kWh is multiplied by your unit rate, which depends on your tariff.

Actual reading If you have submitted a reading or your supplier has sent someone to take a reading, then this will appear as actual on your bill. If not, you will have an estimated reading, which is your assumed usage. This will not be as accurate as an actual reading. Switch to make savings

Once you understand the information on your energy bills, you can make an informed decision about whether the tariff youre on is right for you.

Crucially, you can also use the data on your bill to see whether a different supplier or tariff is better for you. By running an online energy comparison using some of the information on your bill, youll be shown all the best
energy deals in your area from the countrys best energy suppliers . Plus, youll also be shown exactly how much you could save by switching to each. If youre on an expensive standard variable tariff, you could save hundreds of pounds.

Find the best energy deal for your home

TechRadar has partnered with GoCompare to help you find the best energy deals in your area. Our energy comparison tool takes less than five minutes to use, and could save you hundreds on your energy bills. Save money now



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Link to news story: https://www.techradar.com/news/35-of-people-dont-understand-their-energy-bills -we-explain-the-key-terms/


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