Payments

Hi, ive just joined bulb and my monthly payment is £57.19. however on my tarriff info it says my estimated annual cost is £1122.07 which works out at £93.50 a month. I’m confused by this, how can my monthly payment be £57 if I’m expected to use £1122 in the year? I don’t want to end up owing a lot of money and I don’t want my payments to increase by that much.
Thanks.

Hi @Cazmack.

Did you enter in any information about your annual consumption in kWh when you signed up?

We recently received the figures stored on your meter for the energy used at your home over the last year. This information was sent to us after you switched, by your old supplier. The £1122 figure is a calculation from these figures. However, these figures could be wrong if:

a) you have lived in your home less than a year
b) you haven’t sent your old supplier a meter reading in a while
c) your energy consumption has changed in the last year

I would recommend entering in regular sets of meter readings so we can understand whether the information sent to us was correct.

Cheers,
Helen

I entered the kWh on the comparison website (uswitch) which then showed me the savings I could make. It said with bulb I could save £200 per year. So I was expecting payments of around £80 a month. If the payments go up to £93.50 I’m actually only going to save £3.50 a month so not really much of a saving and I feel I’ve been misled.

Hi @cazmack , if you entered your annual usage to get your monthly quoted amount, that will be the correct amount for you!

As @“Helen at Bulb” mentioned, the estimated annual cost on your statement comes from a figure we receive separately that will automatically update once we receive several meter readings from you and learn your true usage.

If you’re concerned about your monthly payments and want to ensure you are paying the right amount with Bulb, submit a set of readings a few days before your first statement on 17th November. That will then show exactly how much your energy cost in your first month.

Feel free to ask us for advice on this at any point.

Okay, will do, thanks.