I had new smart meters fitted yesterday afternoon. Rather shocked to see my costs at over £5 for half a day by the time I went to bed!!! Most of it was Gas usage (>£3) and it wasn't even a cold day. According to my Nest thermostat, the boiler was only running approx 1.5 hours since the meter was fitted. How can 1.5 hrs heating equate to £3 usage ? Boiler (not combi) is rated 24 kW max and tariff shows 4p/kW (which is wrong - should be 2.68p). My basic maths suggests this should be 1.5 hrs * 24 kW * £ 0.04 = £ 1.44 + 27p standing charge. That assumes boiler runs at full tilt the whole time which is not correct as I hear it modulate down after a few minutes.
This doesn't seem right to me. Even if/when the tariff is corrected it seems too high.
How can I get the tariff set to the one I'm actually signed up to? How likely is it I've got a duff meter that is reading too high on gas?
High usage costs shown on my new smart meter In Home Display (IHD) - Are my prices correct?
Best answer by Tim_OVO
Updated on 12/06/24 by Abby_OVO
Sorry for the inaccurate unit rates you’re seeing on your In-Home Display (IHD). Sometimes it can take up to 6 weeks for your smart meter to complete the initialising process, which could mean that the information displayed your device might not be accurate to begin with.
Once it’s fully set-up the tariff information showing on the device should match the rates showing on the ‘Plan’ page of your online account or OVO app (download for Android or iOS). So if it’s been over 6 weeks since your smart meter was installed and things still don’t line up - reach out to our Support Team who can make sure the rates on your IHD are corrected. In the meantime it’s worth bearing in mind:
Usage costs on your IHD may not 100% match your daily charges
If the unit rates loaded on to your device aren’t accurate, the daily costs shown here won’t match what you’re actually charged. For this reason we’d always advise checking the actual usage charges on the ‘Billing’ page of your online account or OVO app.
No increase in costs due to a smart meter
Having a smart meter installed won't directly increase your costs. There are no hidden effects on usage, and your unit rates and standing charges won't change.
Your meter will be accurate
The meter will clock accurately. Old meters can slow down, or even speed up meaning they're not measuring your energy usage correctly. We'd only expect to see this with very old meters. A brand new meter, smart or otherwise, will clock what you're using accurately.
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