I’ve just joined Bulb about one month ago. When I log in to the app I see the message that my payments are low and i’m Using more than i’m paying. However, there is no meter reading of my usage to date and there is no statement yet produced, so on what evidence is the app saying i’m Using more than i’m Spending?
The prediction will wither be based on what you entered/selected when you signed up or historical meter readings with your old supplier (these are stored with the ‘independent third party verification company’ who handle switches etc and are passed to your new supplier - i.e. Bulb - when you switch). It may be the case, you just selected a ‘typical X bedroom house’ in your area when you got the original Bulb quote and now Bulb has got the historical meter readings, they’ve found out you are a ‘higher than average typical X bedroom house’ user - and hence why the estimates are higher.
It will also be based off a yearly average and so Autumn/Winter estimates will be higher than you are probably paying, but Summer (when you use less heating) will be lower: but since you are a new customer, you haven’t yet built up enough ‘credit’ in your account for the winter months to cover this. Rephrased: Say your yearly average bill is £1,200 per year - that’s £100 per month you’ll be paying. However, during Summer you may only use £50/month power but during Winter Months, £150 - but over the year it works out.
Once you’ve supplied a couple of months readings, things should stabilize, but I’d suggest increase your monthly payments a bit just to be sure.