Monthly payment vs Meter Readings

Hi Bulb. I’ve just joined and I have a doubt regarding how I will be charged. I can see that I’ve been set up a monthly cost of ~ £75 for Gas + Electricity, but how do the meter readings are considered? What if I consume less than £75 in a month?

Thanks in advance for your attention.

The balance will be left in your account which is handy as a buffer in the winter when the usage is often higher

The £75/month is an estimate to cover a year’s consumption. Once things have settled down, you can alter the amount up or down, or even request a refund if the balance is excessively high.

Hi all, thanks. But then how the meter readings are taken into account? Does Bulb review the meter readings on a periodically basis to check whether a refund need to be done or not?

As mentioned, the £75 figure is an estimate of the monthly payment which will cover your costs over a year.
Regular meter readings will show if over the coming months you’re on track, bearing in mind that until October your monthly costs will probably be below £75, but will then start to rise over the colder darker months.
Bulb won’t complain as long as you’ve got enough credit to cover the next monthly statement.
In any event, you can make top up payments if necessary via the website, or email help@bulb.co.uk to request a refund if your credit balance becomes excessive.

When you joined Bulb you may have given an estimate for yearly usage this figure would be on your previous suppliers final Bill, failing that Bulb can access historical information. So the yearly usage figure (kWh) is converted to a yearly £s amount and then divided by 12 to give a monthly direct debit amount.
As 198kz has explained your actual usage will vary depending on the colder/warmer months but the DD payments remain constant and should balance out over the year.

Hi @Claudia Great Question! And also great answers from @scudo and @198kHz (as always!) To confirm everything that they have correctly mentioned, you start off on a monthly payment that is based on the quote that we give you, this can be quite inaccurate if the only data is based on property size and postcode. I would recommend if you want to make sure that your payments are spot on that you should submit regular meter readings and then have a look on your bulb account page at the level at which you should put your payments. Whilst you do want your payments to be accurate as @Fatboyjim59 says you want to build a buffer in the summer so you can use more in the Winter hope that answers your question!

Ben