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How are you managing energy direct debits?

(83 Posts)
GrannySeaside51 Tue 27-Sep-22 10:44:21

I am all electric with Octopus who I am happy with and manage my account online. I understand it is not for those who don’t like the internet for financial matters or don’t have access to the internet.

I recently increased my monthly dd to £100pm and about £200 in credit.

I received an email from Octopus advising they were reducing my monthly payment to £33. This is passing on the £400 discount of the Government Energy Bill Support Scheme. From October, I will receive a monthly discount on my account of £66 (rising to £67 from December to March). I have the option to use the scheme to build up a buffer, and can adjust my payment back up.

I am wondering whether to increase it back to £100 or just by a small amount and if so how much? What would you do?

yogitree Thu 29-Sep-22 12:57:01

I'm in a one-bedroom semi-detached bungalow. I pay a combined charge for electricity and gas with UW, and used to pay £118, but that has gone up to £181. It is due to go up again on Saturday, so reminding everyone to get their meter readings sent in asap so they don't just 'predict' your costs.

Treelover Thu 29-Sep-22 12:57:47

I seem to be on a different planet. Are Scottish power just behind??? I have just sent them my meter readings...they put up my monthly Dual fuel DD's from £177 to 233 and now say that is not enough...
Your current balance is £822.26 in credit
Your estimated annual cost is £3019.22 [1]|
You currently pay £233.14 per month Current Direct Debit
£233.14
Recommended Direct Debit
£241.00

Dillonsgranma Thu 29-Sep-22 13:00:28

I had a letter from ovo energy stating they are putting my d/d up each month to £144. I rang them and pointed out my account is £600 in credit. They wouldn’t budge on the new d/d so I’ve asked for my £600 to be repaid. That’s fine they said!!! I wouldn’t advise anyone to let a big credit build up on their energy accu

crazyH Thu 29-Sep-22 13:00:31

My DD has increased to £291 pm. What does Account Balance mean? I have £690 showing. Does it mean I owe them that or I am in credit by that? No point ringing them -

Happysexagenarian Thu 29-Sep-22 13:01:16

We are with Brit.Gas. we're an all electric house. Our DD is £220 and we have a £600 credit balance, at one point it was over £1000. I have asked for a refund twice, but BG refused saying that we won't be able to cover the energy we'll use over the winter. But when I look at our account it tells me I'm paying too much! So I reduced our DD payment and BG immediately increased it again! TBH I can't be bothered with faffing about with it all or changing suppliers, so we'll leave it alone and see what happens after the winter. If they gave us a refund from the credit we'd probably only spend it on something else.

Foxyferret Thu 29-Sep-22 13:03:01

I will leave my reduction as it is and then the extra money I would have spent will stay in my bills account to cover any bill when gov help is finished.

Grantanow Thu 29-Sep-22 13:49:01

No action on DD yet. I'm on a 2 year fix until 31 Oct.

bear1 Thu 29-Sep-22 13:50:33

i am with Eon was paying £39 a month they put it up to £63 a month from 6th October but i have been paying a bit more in so over a £100 in credit Eon are now saying i will be paying £0 from 1st October for 6 months !! i am going to keep paying the £39 a month so my credit hopefully builds up to when the government money stops

knspol Thu 29-Sep-22 14:56:04

I'm also on EDF, had an email telling me that based on usage I needed to up my DD by £25 per month which seemed reasonable. The next day I had another email telling me my DD would be going up by £100 per month! Go figure.

HannahLoisLuke Thu 29-Sep-22 15:20:54

I’m also with Octopus and have had the same email saying my monthly DD will reduce to £23 due to government discount. I’m currently £171 in credit and have told them to keep my payments at the previous level if £90.
I’d rather do that than get used to a tiny payment then have to increase it in six months.

Stillstanding Thu 29-Sep-22 15:22:41

I think the same way as Riverwalk and others. I used to pay a regular monthly amount, but the amount got silly high and I felt British Gas were using me as some sort of loan bank without paying interest. I now pay for my consumption by the month only, albeit by direct debit. It makes my consumption much clearer and I can see, for example, that in June of this year my actual gas consumption cost me only 26p more than the service charge. This way I save up for my bills and I get the interest. Anyone can cancel their direct debit at any time and I think it would be such a good way of protesting.

jocork Thu 29-Sep-22 16:33:39

I pay for what I use by variable direct debit. The disadvantage is that I pay more in the winter but the advantage is that I don't build up credit or debt. It suits me this way. I've used this system for a number of years. I used to submit a meter reading every month but last time I wanted to get the best deal I had to have a smart meter fitted so now I get accurate bills without having to do anything.

Sawsage2 Thu 29-Sep-22 16:41:38

I'm with British Gas for elec and gas. They email me to read the meter every 3 months,(I won't have a smart meter) they tell me how much it is and I pay them via bank. Easy.

twiglet77 Thu 29-Sep-22 16:56:00

Instead of letting a significant credit build up, surely you can put the ‘extra’ monthly amount into a savings account and at least get a bit of interest on it? Better in your coffers than in theirs (as long as you’re affording the correct payment).

twiglet77 Thu 29-Sep-22 16:57:53

I refuse to have a smart meter but I take a reading on the last day of each month and submit it using the app, then record it on a spreadsheet so I can monitor my usage and check it is as I expected.

kissngate Thu 29-Sep-22 16:58:46

jocork- that's a good idea I will suggest this to friend in her 80s who I help with online bills. Her previous supplier went bust and she got transferred to British Gas at the time she was £300 in credit. Once transfer happened the £300 credit turned into a £79 debit. She hated being in debt so I paid a credit to her account. BG said some previous bills had been estimated although she eventually ended up with 150 in credit. I arranged for a smart meter to be installed. Credit has built up again so I tried to reduce her DD. It would only reduce by £4 pm which is scandalous. I will see if BG will do a variable DD and refund her credit. I can't understand why anyone would want to fund Energy Companies bank balances.

A shout out for E.on as when I asked to increase my DD they refused saying they had already taken into account the increase from 1 October when they reduced our DD to £13 and said no need to overpay unless we added more electrical appliances.

Bijou Thu 29-Sep-22 17:41:19

I am with EON next. Am all electric, Economy 10. Storage heaters. For two months they took no DD then last month £230. I am in £250 in credit I phoned and asked if I could go on a cheaper tariff but they said Iwas on the cheapest already!
I am not really worried because I have to keep warm but feel sorry for those who are struggling.
Everything was so much easier when the utilities were nationalised and there were no shareholders.

nexus63 Thu 29-Sep-22 18:38:08

i am with sse and keep getting asked to have a direct debit, i have a pre-payment meter so i can only use what i can afford and that suits me better, i would just stress myself out if i was getting a bill.

Jane12356 Thu 29-Sep-22 18:47:50

I am with Scottish power and at first i got an e mail saying my payments would only increase by £2 a week ! oh joy i thought ! and then got another e mail the next day saying actually the increase will be £25 a week !!! and despite trying to ring them and getting nowhere i trawled through their website to find their e mail address and finally messaged them to ask why there were two conflicting e mails but no reply as per usual. So i would be very sceptical of any messages you may be getting and i would advise taking meter readings, even if you have a Smart meter, before October 1st or i think we may get conned !

Pam1969 Thu 29-Sep-22 18:53:55

Can we switch like we used to with ease? I am thinking Octopus or Ovo sound better best...any strong views?

Shinamae Thu 29-Sep-22 22:20:59

No brainer…. Octopus..?

MerylStreep Thu 29-Sep-22 22:32:37

nexus63

i am with sse and keep getting asked to have a direct debit, i have a pre-payment meter so i can only use what i can afford and that suits me better, i would just stress myself out if i was getting a bill.

Nexus
Please read this article. Scroll down to which is more expensive etc It will save you money.

metro.co.uk/2022/08/26/is-it-cheaper-to-pay-for-energy-by-prepayment-meter-or-direct-debit-17248854/

Oldbutstilluseful Thu 29-Sep-22 23:04:17

I switched from BG to Octopus in July. Best thing I did. A previous poster has offered to use their £50 switch benefit. I suggest you pm them.

Catterygirl Thu 29-Sep-22 23:38:37

We are pay as you go. Always know whether we can switch the heating on. Word is that it’s much more expensive but we no longer get a bill in March 10 years ago for £900. One third of that. However in the current situation we keep turning off everything as much as we can.

Hope you all stay warm.

Bucks Fri 30-Sep-22 14:15:06

Remember if a company goes bust you will become a creditor. Better to have the overpayment in your bank account and stick to the suggested dd. The company will contact you if it is insufficient.