diff --git a/homeassistant/components/utility_meter/__init__.py b/homeassistant/components/utility_meter/__init__.py
index bf9beae060c..525b4f3b43c 100644
--- a/homeassistant/components/utility_meter/__init__.py
+++ b/homeassistant/components/utility_meter/__init__.py
@@ -182,8 +182,6 @@ class TariffSelect(RestoreEntity):
     async def async_added_to_hass(self):
         """Run when entity about to be added."""
         await super().async_added_to_hass()
-        if self._current_tariff is not None:
-            return
 
         state = await self.async_get_last_state()
         if not state or state.state not in self._tariffs:
diff --git a/homeassistant/components/utility_meter/sensor.py b/homeassistant/components/utility_meter/sensor.py
index b65628d5f0b..ec137968bc5 100644
--- a/homeassistant/components/utility_meter/sensor.py
+++ b/homeassistant/components/utility_meter/sensor.py
@@ -32,6 +32,7 @@ from homeassistant.helpers.event import (
     async_track_state_change_event,
 )
 from homeassistant.helpers.restore_state import RestoreEntity
+from homeassistant.helpers.template import is_number
 from homeassistant.helpers.typing import ConfigType, DiscoveryInfoType
 import homeassistant.util.dt as dt_util
 
@@ -166,13 +167,10 @@ class UtilityMeterSensor(RestoreEntity, SensorEntity):
         self._parent_meter = parent_meter
         self._sensor_source_id = source_entity
         self._state = None
-        self._last_period = 0
+        self._last_period = Decimal(0)
         self._last_reset = dt_util.utcnow()
         self._collecting = None
-        if name:
-            self._name = name
-        else:
-            self._name = f"{source_entity} meter"
+        self._name = name
         self._unit_of_measurement = None
         self._period = meter_type
         if meter_type is not None:
@@ -231,8 +229,6 @@ class UtilityMeterSensor(RestoreEntity, SensorEntity):
                 return
             self._state += adjustment
 
-        except ValueError as err:
-            _LOGGER.warning("While processing state changes: %s", err)
         except DecimalException as err:
             _LOGGER.warning(
                 "Invalid state (%s > %s): %s", old_state.state, new_state.state, err
@@ -282,7 +278,7 @@ class UtilityMeterSensor(RestoreEntity, SensorEntity):
             return
         _LOGGER.debug("Reset utility meter <%s>", self.entity_id)
         self._last_reset = dt_util.utcnow()
-        self._last_period = str(self._state)
+        self._last_period = Decimal(self._state) if self._state else Decimal(0)
         self._state = 0
         self.async_write_ha_state()
 
@@ -319,9 +315,10 @@ class UtilityMeterSensor(RestoreEntity, SensorEntity):
                     ATTR_UNIT_OF_MEASUREMENT
                 )
                 self._last_period = (
-                    float(state.attributes.get(ATTR_LAST_PERIOD))
+                    Decimal(state.attributes[ATTR_LAST_PERIOD])
                     if state.attributes.get(ATTR_LAST_PERIOD)
-                    else 0
+                    and is_number(state.attributes[ATTR_LAST_PERIOD])
+                    else Decimal(0)
                 )
                 self._last_reset = dt_util.as_utc(
                     dt_util.parse_datetime(state.attributes.get(ATTR_LAST_RESET))
@@ -399,7 +396,7 @@ class UtilityMeterSensor(RestoreEntity, SensorEntity):
         state_attr = {
             ATTR_SOURCE_ID: self._sensor_source_id,
             ATTR_STATUS: PAUSED if self._collecting is None else COLLECTING,
-            ATTR_LAST_PERIOD: self._last_period,
+            ATTR_LAST_PERIOD: str(self._last_period),
         }
         if self._period is not None:
             state_attr[ATTR_PERIOD] = self._period
diff --git a/tests/components/utility_meter/test_init.py b/tests/components/utility_meter/test_init.py
index 61e6fc4dae8..3297c696ca1 100644
--- a/tests/components/utility_meter/test_init.py
+++ b/tests/components/utility_meter/test_init.py
@@ -62,7 +62,12 @@ async def test_services(hass):
                 "source": "sensor.energy",
                 "cycle": "hourly",
                 "tariffs": ["peak", "offpeak"],
-            }
+            },
+            "energy_bill2": {
+                "source": "sensor.energy",
+                "cycle": "hourly",
+                "tariffs": ["peak", "offpeak"],
+            },
         }
     }
 
@@ -153,6 +158,10 @@ async def test_services(hass):
     state = hass.states.get("sensor.energy_bill_offpeak")
     assert state.state == "0"
 
+    # meanwhile energy_bill2_peak accumulated all kWh
+    state = hass.states.get("sensor.energy_bill2_peak")
+    assert state.state == "4"
+
 
 async def test_cron(hass, legacy_patchable_time):
     """Test cron pattern and offset fails."""
diff --git a/tests/components/utility_meter/test_sensor.py b/tests/components/utility_meter/test_sensor.py
index 51212580aaf..fbaf795f9e2 100644
--- a/tests/components/utility_meter/test_sensor.py
+++ b/tests/components/utility_meter/test_sensor.py
@@ -304,6 +304,10 @@ async def test_restore_state(hass):
                     ATTR_UNIT_OF_MEASUREMENT: ENERGY_KILO_WATT_HOUR,
                 },
             ),
+            State(
+                "sensor.energy_bill_midpeak",
+                "error",
+            ),
             State(
                 "sensor.energy_bill_offpeak",
                 "6",
@@ -326,6 +330,9 @@ async def test_restore_state(hass):
     assert state.attributes.get("last_reset") == last_reset
     assert state.attributes.get(ATTR_UNIT_OF_MEASUREMENT) == ENERGY_KILO_WATT_HOUR
 
+    state = hass.states.get("sensor.energy_bill_midpeak")
+    assert state.state == STATE_UNKNOWN
+
     state = hass.states.get("sensor.energy_bill_offpeak")
     assert state.state == "6"
     assert state.attributes.get("status") == COLLECTING
@@ -530,7 +537,7 @@ async def _test_self_reset(hass, config, start_time, expect_reset=True):
         assert state.attributes.get("last_reset") == now.isoformat()
         assert state.state == "3"
     else:
-        assert state.attributes.get("last_period") == 0
+        assert state.attributes.get("last_period") == "0"
         assert state.state == "5"
         start_time_str = dt_util.parse_datetime(start_time).isoformat()
         assert state.attributes.get("last_reset") == start_time_str
@@ -559,7 +566,7 @@ async def _test_self_reset(hass, config, start_time, expect_reset=True):
         assert state.attributes.get("last_period") == "2"
         assert state.state == "7"
     else:
-        assert state.attributes.get("last_period") == 0
+        assert state.attributes.get("last_period") == "0"
         assert state.state == "9"