1. What is my Annual Summary?
It’s a statement from us telling you how much gas and/or electricity you’ve used that year, and how much it has cost you. Ofgem, the regulating body behind energy, introduced annual statements to give customers more power over their bills.
Unlike your monthly or quarterly statements, an Annual Summary gives you an overview of your total energy use and how much you’ve spent over the course of a year, regardless of seasonal fluctuations.Your annual summary is sent to you once a year as an email attachment or by post, depending on how you receive your monthly bills. If your gas and electricity supplies started with us at different times, you may receive your summaries separately. You get one statement for electricity and a separate statement for gas.
Your annual summary will help you to understand how much your energy may cost in the next 12 months, as well as providing key information to help you compare different energy tariffs. Please be aware that switching tariffs may mean different terms and conditions.
2. How is this different to a bill?
Your annual summary is a statement of the energy used over the last 12 months’ and it also shows you your projected usage for the coming year. Your bill on the other hand, shows charges, amount owed and payments received for a set billing period, either quarterly or monthly.
3. Why are these being sent separately from my bills?
Ofgem regulations state that your annual summaries are sent separately from your usual bills. If you have both your gas and electricity supply with Green Star Energy then your annual summary for each supply may be sent together.
4. How is my Annual Summary calculated?
Your Annual Summary usage is calculated based on:
- Number of kWhs used over the last year
- Current tariff and any additional charges such as VAT
Your projected usage is calculated based on:
- Number of kWhs used over the last year
- The current and/or default tariff applicable for the coming year (if your current tariff is coming to an end). The default tariff is our Rate Watch Variable Tariff
5. How do you work out my Personal Projection?
We base your personal projection on time left on your chosen tariff, and the rate on our Standard Variable Tariff, also using energy usage information from your previous supplier, if it’s available. Any discounts you’re eligible for will be taken from the personal projection.
6. I’m on a fixed-term tariff, why have you calculated my projected annual spending using rates for a variable tariff?
If your current tariff has an end date, we’ll automatically move you onto our variable tariff at the end of your fixed term. To help you make an informed decision about changing tariffs, energy suppliers and switching sites work out how much you’re likely to spend on energy in the coming 12 months. We take into account the remaining time on your current tariff and the rates you’ll be moving on to. This shows you the difference between what you would pay if you didn’t change tariffs again and what you’d pay by moving tariffs.
7. Why is my projection for next year so different compared to what I have paid this year?
Your projection is calculated using the time left on any fixed rate tariff and then our variable tariff that you would automatically move to if you didn’t renew with another fixed rate tariff. There may be an increase in the amount of projected energy use if your energy consumption was particularly low this year and not in line with the industry estimated consumption for your property.
8. How and when will I get my annual summary?
You will need to have been a customer of Green Star Energy for at least 12 months before you receive an annual summary. We will send you your annual summaries annually near the anniversary of the date you switched to us. You’ll receive your annual summary in the same way that you receive your bill. Please click here if you would like to register for an online account.
9. I’m a dual fuel customer, why have I only received one Annual Summary?
This is probably because your supplies switched on different dates. If only one of your supplies has been with Green Star Energy for the necessary 12 months’ then you will only receive an Annual Summary for this supply. Annual Summaries are produced for each supply on the anniversary of each supply start date.
10. Is the Annual Summary based on actual or estimated readings?
Where possible, we use actual meter readings that have been taken over the last 12 months. If we don’t have meter readings, we calculate an estimate based on previous usage. If we have used estimated readings, then your actual energy usage may be higher or lower than these. To ensure that we are calculating your energy usage correctly, we would recommend that you provide regular meter readings. These readings also help us to make sure your bills are accurate.
11. What information is on an annual summary?
Ofgem says that your annual summary must contain:
This is crucial for running an accurate comparison and finding a better energy deal. When you enter your tariff details comparison sites can use the right rates for your current plan.
- How much energy you’ve used in the past 12 months
This is in kilowatt hours. This is a crucial figure and will allow you to run an accurate comparison.
This is an estimate of your likely costs over the next 12 months based on the Industry Estimate (this doesn’t include any credit or debit balance you may have on your account).
- The main terms and conditions of your tariff
These are very important. Some tariffs that are fixed for a given period of time may have an exit fee to pay if you leave early.
- Details of any premiums or discounts
This explains the details of things like our online account management discount and paying by direct debit.
- A reminder that you can switch your gas or electricity supplier
You shouldn’t pay more than you have to for your energy. That’s why our annual summary clearly says: “Remember – it might be worth thinking about switching your tariff or supplier”.
A quick guide to some of the common terms you find on your annual summary.
- Signposting to independent advice
Contact details for useful organisations that can help you reduce your energy costs and to inform you about your rights as an energy consumer.
12. Will my Direct Debit go up as a result of my annual summary?
No. Your direct debit will be reviewed separately, depending on when your supply first switched to us. If you’re concerned that your current direct debit is either too high or too low for your usage then please get in touch and we’ll be happy to review your amounts sooner, based on an up-to-date meter read.
13. Can I have both fuels displayed on the same Annual Summary?
Unfortunately, we cannot do this. We produce separate annual summaries to make the information clear and easy to understand based on the Ofgem recommendations for Annual Summaries.
14. Why is my consumption showing as a negative figure?
When we’ve not received a meter reading either from yourself or through a meter reading agent we will calculate your usage based on average consumption data provided by the industry. As the readings from the industry are estimated, these can vary from your actual meter readings. Your Annual Summary (or summaries for dual fuel customers) is calculated using the total usage billed over the past 12 months, therefore if we receive a meter reading that is lower than the one we estimated 12 months ago it will result in your overall consumption displaying as negative.