Money Matters. Welcome to the first edition of our monthly newsletter. A Monthly Newsletter from the Barrow Advice Hub

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1 1 February 2015 A Monthly Newsletter from the Barrow Advice Hub Welcome to the first edition of our monthly newsletter This newsletter is aimed at everyone interested in saving money and will be packed with information and ideas to help you and your service users become more financially capable. In the first edition we will have information on Smart Meters, and a top tip on how to get the Best Deal when Switching Energy Providers. We will also have an Ask Aitch section where you can ask Aitch a question on anything related to, so get your questions sent in and if you have anything you want to share then please details for the next edition. Inside this issue: Smart Meters 2-4 Fuel Comparison 5 Ask Aitch 6 Next issue 7 Contact Details 8

2 2 What are Smart Meters? Smart meters are the next generation of gas and electricity meters. They tell you how much energy you are using through a display in your home and can communicate directly with your energy supplier meaning that they will not need to come and read your meter and you will no longer get an estimated bill. What are the benefits of Smart Meters: Smart meters give you real time information on energy use, expressed in pounds and pence. Better oversight of your energy use helping you save money and reduce emissions. Smart meters will bring an end to estimated billing - you will only be billed for the energy you actually use, helping you budget better. Easier switching - smoother and faster to switch suppliers to get the best deals. In 2013, Independent Research commissioned by uswitch found that 55% of us were in the dark about Smart Meters.

3 3 Smart Meters - When will you get one? The government views the smart meter roll-out as an important step in giving consumers more control over how much energy they use. By providing accurate and timely information on energy consumption it will help consumers make more informed decisions to reduce energy bills and carbon emissions. This is a major undertaking for energy providers as the roll-out will see 50 million gas and electricity meters installed in 27 million homes by Each energy provider will have its own plans for rolling out smart meters to customers. In accordance with government proposals, all fuel providers will be obliged to complete the roll-out between 2015 and How much does a smart meter cost? Your supplier will install your smart meter for free under the national upgrade programme set to begin in All households currently pay for the cost of their meters and required maintenance as part of their energy bills, this will be the same with Smart Meters. Once the roll-out begins, energy companies will contact their customers to arrange a suitable time and date for a smart meter to be installed.

4 4 Smart Meters Installation A typical smart meter installation takes around one and a half hours, but this will differ from property to property, and depends on where the current meters are located. Can I refuse a Smart Meter? Yes! You are under no obligation to have a smart meter installed in your home. You can discuss any concerns you have about smart meters with your supplier. Prepayment Customers Smart meters can work in prepayment or credit mode and you can agree with your energy supplier which way you want to pay. Prepayment customers will see many benefits from having a Smart Meter. For example: Your energy supplier may be able to offer you new and more flexible ways of topping up your meter Smart meters can work with remote credit top-up facilities so, for example, you won t need to go out after dark to buy more credit, your smart meter can be set so that if you do run out of credit at night or when the shops are shut you won t be left without power. Speak to your energy provider for more details.

5 5 Fuel Comparison Sites Did You Know? When looking at Fuel Comparison Sites for switching Energy Providers if you see a box that asks if you want to see deals that you can switch to today tick NO! If you tick yes you will only see deals that the comparison site receives commission on, the others are filtered out! If using a Telephone switching company, always ask how they are funded If its by commission you may not be offered the best deal!

6 6 Ask Aitch! Q: What is a Standing Charge? A: The Standing Charge is a fixed amount you have to pay for each day you are connected to a gas or electricity network, regardless of what you use. Energy bills work a bit like telephone bills. With phones, you pay line rental to have the line and then are billed for specific calls on top. With energy, the standing charge is the cost of having a gas and electricity supply, then you pay usage charges on top. The standing charge is therefore a fee you pay to your energy supplier simply because it gives you access to energy. It's paid at a flat rate, 5p-40p a day for gas and 10p-30p a day for electricity. Ofgem has stated that all tariffs must now include a standing charge, although suppliers could in theory have a standing charge of 0. If you are connected to the gas network and your standing charge has significantly increased, but you are not using the connection, contact the Citizens Advice Consumer Service for advice: Monday to Friday 9.00am to 5.00pm Ask Aitch! - Brought to you by Helen Forrest at Barrow Citizens Advice

7 7 What s in the next Issue? March 2015 Water Meters - Are they right for you? If you don t already have a water meter fitted, your current bills are based on the rateable value of your property, not on the amount of water you use so how much you pay won t relate to how much water you use. Find out if a water meter will save YOU money. Energy Saving Quick Wins Energy Saving is the first step to saving money. Get useful tips on how to save energy with our Quick Wins guide. Energy Saving - Myths Should you keep your heating on all day on low? Should you paint your radiators black? Check out our Myth busting article to see if common traditions to cut energy usage really work. Ask Aitch Topical Q & A section Have you got a Money related question for Aitch? If so pop it in an .. Meet the Team Introduction to the Team. Meet the team at Barrow Citizens Advice who are here to help on all things money related, from Budgeting to Bankruptcy and Beyond!

8 8 If you have any comments, questions, suggestions or have information to share, please send an to: Project Helen Forrest Barrow Citizens Advice Ramsden Hall Abbey Road Barrow in Furness LA14 5QW Advice Line