How to Track your Electricity Bill

I was told to read my energy meters like it was an obsession at the beginning of the year when it was becoming clear our energy prices would go through the roof!

I submitted my meter readings via the app on my phone and then called EDF to issue my energy bills monthly.  

My bill is currently sent out every six months and that just causes me a ridiculous amount of anxiety.  I can't go six months not knowing how much my energy bill may be!  So I called EDF, 40 minutes later and after 2 on-screen text chats - I still have my bill twice a year!

What a waste of time that all was!  I don't know why they won't give me a monthly bill.  EDF was talking about cancelling my direct debit and billing me monthly.  That's not what I asked for or wanted.

I know this has been a popular option for many, but I want a direct debit each month and I want to know what is owed or if I'm "in credit".  I'm very happy to ask for a refund back into my account!.

How I track my Electricity Bill

I have created a spreadsheet to track my usage and costs and thought I'd share with my readers how I've done this:

• I've created a new excel spreadsheet.
• I have two readings, I assume for when we used to have a lower rate for night usage?  I don't know, all I know now is both usage numbers cost the same.
• I obtained my latest bill - this is very important as you need a base to start with.
• I use the latest figures on the app or website, regardless of when the standard charges and rates change, this way I know I'm going to be "worst case" for my bill and it should come in lower.

The columns:

• In the first column type in the previous month's meter reading.
• The next column is your main input cell.  Update this every time you do a meter reading until you get your bill.
• Next is a formula field.  To find out what you are going to be billed take off the total units used with the previous bill's units.

• These units are to be multiplied by the current energy rates.  My latest tariff states unit rates of 35.32p per kWh
• There is also a standing charge of 42.68p per day - we'll come to that part of the calculation shortly.

• Units multiplied by the unit rate will give you the cost of your electricity.  For your bill, we have to add VAT and standard charges too.
• Under the unit cost lines in excel add a line for Standing charges.  This is the number of days between the last bill and today multiplied by the standing charge - mine as you see above is 42.68p.
• For 139 days I am going to be charged £59.33 - This field must be updated as you update your meeting readings until you get your bill.

• Finally, we need to add VAT.  5% needs to be added to the costs so far, and the total incl VAT will be what to expect when your next bill comes in.  
• Check that your direct debit will cover this bill, if not, increase it where necessary.
• I track my bill every month but update the days and the readings to ensure I'm on track to cover the bill with my monthly direct debit amounts.  I can't wait six months for EDF to tell me!

I have also created an excel spreadsheet to help calculate the cost of electricity if anyone wants to use that instead.  

The Gas bill has an extra calculation to it, if you are interested in me showing my gas spreadsheet, leave a comment below.