[I have received my first 2 AdSense clicks over the last couple of days which I am very pleased about. But the predicted payment amount was only 5 pence for each click. It should be much higher than this. Does anyone know why I would receive around 1/10th of the expected fee?]
Sounds like you may need to adjust your expectations a bit. What method did you use to arrive at your predicted EPC?
One of the biggest factors influencing your EPC is your traffic source. Where does it come from and how well targeted is it? A close look there and you will likely discover the reason for your low EPC.
Those numbers are the top bids on the top pages of the best websites. If your webpage isn’t in that group, you are going to receive considerably less.
You know this is a competition, right? You need to establish your web pages as the best for the targeted keyword and then, and only then, will you receive your portion of the highest bids. The key to this is getting extremely targeted traffic and lots of it.
It depends on how well targeted those keywords are if they are extremely well-targeted keywords with a high degree of commercial intent, then yes, you will get those higher numbers, provided you also net good conversion results for your advertisers.