All of the units on my Electric meter are in multiples of ten (0.01,0.10, 1, 10, 100, 1000 etc...). For some time now I have been trying to get use down within the household and (call me sad but) I have been watching the digits click over whilst operating different bits of kit and noticed that the red light only flashes EIGHT times before another digit clicks over. Am I barking up the wrong tree by thinking my use is actually being overstated by 20% (8 flashes instead of 10 - everything else is in multiples of 10)?

Are there some make and model numbers on the meter? If we had that we could try and find a data sheet for the meter to check what the LED is meant to be displaying.

I'm not sure about all meters but some say they flash the LED once per WH. So 1000 pulses = 1kWH. If the smallest digit was indicating 0.01 kWH then yes I'd expect the LED to flash 10 times and change to 0.02 kWH.

Edit:

Does the meter say "imp/kWh" on it anywhere? What's the number before that?

I found a box if tricks designed to count the LED flashes and the data for that said there are options for..

100, 500, 600, 800, 1000, 1250, 1600, 3200, 10000 imp/kWh

That suggests some meters might exist that flash the LED 800 times per kWH.