Hi @nobleflame 

To give us a better understanding of your usage could you please let us know how many Watts are generally being used at any point and also the kWh used in a day / week?

A possible issue is whether the display is set up with the correct tariff prices.

Yeah, this sounds like the most likely culprit in my opinion. It's possible to fix part of the problem by asking the Support Team to run the SMETS Command Update Tariff Configuration against your meters. But it'd be interesting to fully solve it.

Hi thanks both,

So I’ve only had this set up for a week. 
the metre states that I’ve used 86.73kwh per week (electric). 
 

Not sure how to check the watts, but I’m currently using £0.45/hr electricity.

thanks again!

No worries! I'll make sure this tip gets documented in our IHD guides just in case. @Tim_OVO I think you've got a job there! XD

If you tap the cost on the IHD on any view where you can see it, it should cycle to Watts. It works best on Now and Daily. :)

Ahh, right now it’s saying 335w. It was double that earlier but seems to be fairly random.

OK... That's an awful lot of juice... You may want to see what happens when you turn random devices on and off. 

I thought as much. 
 

it will show this reading even if everything is off in my house. I don’t have any appliances or devices that consume a lot of electricity…

If you have an immersion heater, make sure it's not been left on. 

I'd start by seeing if you can turn everything off (except fridge etc.) and see how low you can get the 'Now' usage. Then turn things on one by one. Anything that heats will use a low of electricity including things like halogen bulbs.

I’ve tried this. The reading seems to stay the same. Right now, for instance, the meter claims I’m using £0.43 per hour. My current electricity usage today is up to £2.84, which seems ludicrously high and unsustainable.

I'd agree there. Most likely due to the tariff configuration not yet having downloaded. But this won't mess up your billing as that's calculated by a different system. The meter and IHD only goes off of what they've got locally. 

Once you get the Support Team to download the correct data, this should be corrected.

I did a little experiment yesterday. You may want to try it yourself.

For my own reasons, and for a few minutes only, I cut off the supply altogether (There is a double pole switch between the meter and the consumer unit). This made my SMETS2 meter pulse LED glow red continuously (instead of pulsing once per 1 Wh electricity consumed) because it assumes there’s a fault, but I was reassured to see that the IHD registered a power consumed of 0 W, and the smart meter reading remained the same, for as long as the supply was cut off. Everything went back to normal when I switched the power on again.

(This is also known as a creep test, I believe.)

I had ice packs that I transferred from the freezer to the fridge to help keep things cold while the power was off, and I had to reset my various clocks and the CH programmer after the power came back on, but my experiment told me what I wanted anyway.

Thanks Blastoise - I’ll contact them tomorrow. 

I’ll give try at a go too. Thanks for the advice!

No worries, glad we could help!

When you contact the team, I definitely recommend letting them know about this thread and the fact you’ve already had a chat with myself, Neal and Simon on the forum. It will definitely help you a lot.

I can’t promise they’ll be able to run the SMETS Commands just yet as it takes a few weeks to fully commission everything. But it should be possible to ask for this to be done once your meters are communicating.

It’s really, really unlikely that a brand new Smart Meter would be clocking too fast or slow already - especially because Smart Meters have built-in self-diagnostics that were totally non-existent in traditional meters. But doing a quick Creep Test never hurts anyway. It’s valid for all electric meters regardless of type and can identify issues that self-diagnostics don’t pick up on.

Again, thank you all. Very helpful!

one final question. I have just moved into this house (hence the new smart meter) and realised that the central heating has been on despite the fact I haven’t used it since it’s summer and all. 
 

I have a regular boiler with a separate water tank. On the controls I can set the CT to come on independent of the hot water.  Is it safe to shut the CT off over the summer and just use the hot water? Thinking this may save me electricity.

Depending how the control system works, it can be absolutely fine to have the heating "on" during the summer - a room thermostat will simply tell the boiler that the house is already warm enough and nothing will happen when the CH programmer changes from "off" to "on" at the set time.

(So, nothing would be saved. That said, I admit our CH is set to off in the summer. Belt and braces, perhaps.)

Okay, good to know. Thanks!

I have had a Smart Meter Installed today.  The IHD3 has a daily budget set for £1.16 (this is how it came, I didn’t set this).  We have storage heaters and can easily use £25 per day in very cold weather.  How can I change the daily (or monthly) budget to £25?  When I press the right arrow it increases by 1 pence -- so I’d have to press it about 2,500 times to get to £25 -- this isn’t practical.

What happens when we reach the budget of £1.16 ?  Does an alarm go off?  Does it turn our electricity off?  I don’t want an alarm going off in the middle of the night, so might just have to leave the IHD permanently switch off?

Thank you for any suggestions.

The IHD is just a monitor and will not stop your supply. 
You can set it as you suggest - the idea being that generally once set any changes would be relatively small. There are different registers for daily, monthly settings. 
When your budget is exceeded, it will display a message to that effect. They are designed to give information for you to act on should you wish to

Hi BPLightlog,  Thanks for your answer, that is very reassuring.

I’m surprised you can only adjust the In Home Display (IHD) target in increments of pennies @Betsy76. You mention an IHD3, is that Chameleon IHD3? There’s a manual by OVO on these here.