On the 24th October, we changed the way we calculate our customers’ Future Annual Costs and Consumption. You’ll be able to see these new figures on your regular monthly statements and your annual statements.
Why have we changed it? To improve accuracy, consistency and help you make more informed decisions around your energy.
The calculation uses a tiered approach. Ideally we'll use your actual readings - if not, we use your Estimated Annual Consumption - this is what we (and the industry) predict you'll use over the next 12 months. If we can’t use those, then we use Ofgem averages.
So...what is Future Annual Consumption (kWh)?
It’s how much energy a customer will use over the next year.
...and what is Future Annual Cost?
It’s how much the energy a customer uses over the next 12 months will cost (according to OVO). Ofgem refer to this as "Personal Projection".
We’d love to know what you think about this new feature!