How Is an Electricity or Natural Gas Settlement Bill Calculated?
An electricity settlement bill is calculated based on the actual consumption recorded by the meter and the official meter readings available from the Hellenic Electricity Distribution Network Operator (HEDNO/DEDDIE) for the relevant consumption period.
How Is an Electricity Settlement Bill Calculated?
Electricity meter readings are generally taken every four months for many standard supply connections. However, the frequency may vary depending on the supply connection and the applicable metering arrangements. Monthly meter readings are also being introduced gradually, while consumers can submit their own meter readings through the available meter-reading submission services. This can allow a settlement bill to be issued each month.
When a settlement bill is issued, the supplier calculates the cost of the electricity consumed during the period covered by the actual meter readings. The bill also includes the applicable regulated charges, as well as any other relevant charges, taxes, and fees.
The charges already included in previous estimated bills for the same consumption period are deducted from the total amount calculated. The resulting balance reflects the actual cost of consumption, taking into account the amounts already billed.
If the amounts charged through previous estimated bills exceed the actual charges, a credit balance may arise. This amount may be offset against a subsequent bill or refunded, depending on the circumstances and the supplier's procedures. Conversely, if the estimated charges were lower than the actual cost of consumption, an additional amount may be payable.
How Is a Natural Gas Settlement Bill Calculated?
A similar process applies to natural gas. The relevant natural gas distribution network operator records or provides the meter readings for the corresponding period and forwards the relevant consumption data to the supplier.
The supplier then calculates the cost of the natural gas consumed during that period, taking into account any charges already included in previous estimated bills for the same consumption period. The settlement bill reflects the difference between the actual charges and the amounts previously billed.
What Should You Check on Your Settlement Bill?
To understand how your bill has been calculated, it is useful to check the following:
- Meter readings: Compare the previous and current readings, as well as the dates to which they relate.
- Actual or estimated consumption: Check whether the bill is based on an actual meter reading or an estimate.
- Energy supply charges: Review the price per kilowatt-hour (kWh), your selected plan, and any applicable discounts.
- Regulated charges, taxes, and fees: Check the additional charges included in your bill.
- Previous charges and payments: Make sure that amounts already billed or paid for the same period have been correctly taken into account.
If you notice an incorrect meter reading or believe your consumption has been calculated incorrectly, you can contact your energy supplier. For issues concerning electricity meter readings, the responsible operator is HEDNO (DEDDIE). For natural gas, you can contact the relevant natural gas distribution network operator.
A helpful tip from Globy+: Keep track of your meter readings and compare them with the bills you receive. Where this option is available, submitting your own meter reading can help you monitor your consumption more effectively and reduce discrepancies that may arise from estimated billing.
This article is general information, not personal advice. Terms and cover depend on the provider and your contract. Your advisor checks what applies to you.
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