The tariff does not add up

Hi

I have just logged into my Bulb account, clicked on “Tariff” from the menus, it gives me the following information:

Electricity Unit Rate: 13.98p per kWh
Electricity Standing Charge: 20.44p per day
Assumed Annual Consumption: 2372.80 kWh

Gas Unit Rate: 3.61p per kWh
Gas Standing Charge: 20.44p per day
Assumed Annual Consumption: 14812.00 kWh

Estimated Annual Cost: £762.55

From my calculation, the estimated annual cost should be £1,015.64

(13.98 * 2372.80) + (20.44 * 365) + (3.61 * 14812.00) + (20.44 * 365) = £1,015.64

Am I missing something?! How did the system get £762.50?!

Many thanks for your help

Dear J, My elementary maths skills gave the same result as your own. I can only comment that their estimated cost seems very low.

Hi SpitT9

Thanks for your reply

A matter of interest, if you went into the “Tariff information”, and did the same calculation, is your estimated annual cost correct?

The reason why I am asking, I hoping to use these figures to compare with other energy companies. If estimated annual cost is £762, no doubt Bulb it’s the cheapest, but if it’s £1,015… I should be moving on. I sincerely hope this is some sort of calculation error or misunderstanding, rather than some misinformation to reassure their customers that they are the “cheapest” energy providers

Unless you have smart meters electric does Kwh gas does not, my smart meter is still old school, then you have to do calculations on the readings.

This is nonsense. The only way this happens is if you’ve allowed your account to be billed on underestimates for several months, leading to a big catch up bill at the end when you finally get a bill based on an actual meter reading. Your direct debit is now very high because a) you’ve been under paying for some time so it has to go up to match your usage, and b) you now have a debt to pay off so it’s temporarily increased even more until that debt is cleared at which point your direct debit can go back down a little.

Do not confuse “the direct debit payment” with “the bill”. They are not the same thing.

The only way you end up in your position is by gross account mismanagement.

Hi Terminator,

The numbers that were stated in my original post, are not meter readings. They are figures provided by Bulb, to highlight how much gas\electrity I would consume in a year and the cost. Therefore I am assuming they have converted the m3 to kwh for gas assumption

I am still waiting for Bulb to reply to my question, on why the estimated annual cost is so low, with the stated assumed annual consumption. It’s been three days… It’s time to give them a call tomorrow!

Highly unlikely to get a reply from Bulb on here.