Energy invoice validation can prevent your business from paying more on energy than you should be. Even though an extra 3-5% every month may not sound like a huge amount of money, any unnecessary overspend should be avoided. And with the rising price of electricity in the UK (estimated to rise by over 30% by 2025), organisations should look to save on energy wherever they can.
This is why energy invoice validation should be part of your businessí overall energy management strategy.
How do energy suppliers get it wrong?
When you conduct a thorough energy invoice validation, you may be surprised to find a number of inaccuracies in your energy bill. Why is this the case?
Suppliers regularly use estimated billing instead of accurate meter readings, especially if you donít submit your own meter readings consistently.
There may be faults with the meter that you or your energy supplier havenít picked up.
You supplier has applied your tariffs incorrectly
They havenít accounted for relevant VAT reductions and other applicable discounts.
Customers overcharged by £102 million
Recent research found that 40% of homes in the UK have been overcharged by their energy suppliers and are now owed a collective £1.3 billion.
Each home in credit could reclaim an average of £121 from suppliers.
25% of customers said that their energy bills didnít add up correctly.
30% were charged for an amount that does not match their meter readings.
How to ensure that you only pay what you should
Analyse each line item on your energy bill Ė standing charges, meter charges, levies, adjustments etc.
Submit regular meter readings to your energy supplier.
Cross-reference your contract rates against your invoices.
Conduct ongoing energy invoice validation or have a third-party company assist you with this.
Energy invoice validation made simple
Energy invoice validation is core to an effective energy strategy, but the process of cross-checking every complex invoice against contracts and meter readings is time-consuming and admin-heavy.
This is why so many companies who wish to avoid overpaying on their gas and electricity bills used the energy invoice validation services from a professional energy broker.
An expert energy broker will:
Analyse energy usage and costs
Help you to recover past overcharges.
Accurately scrutinise past and present invoices