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How are you managing energy direct debits?

(82 Posts)
karmalady Tue 27-Sept-22 11:09:20

crikey I just looked at my octopus account. I am £141 in credit and they put my monthly dd down to £18. I think I will adjust my dd back up, I don`t really notice the original £85 monthly and octopus are very good at refunding excess on request. There is no interest on excess in a bank account so octopus might as well hold it for me

henetha Tue 27-Sept-22 11:08:46

First I had a massive increase in my DDs, then was told there would be a further increase on the 1st October. But then I was told that the second increase was to be postponed. So I am puzzled but relieved.
I am already over £250 in credit with them anyway. I would normally ask for this back, but will leave it this time as it will surely help me through the winter.

Riverwalk Tue 27-Sept-22 11:03:50

I'm also with Octopus and I like the ease in which you can alter your DD as you see fit. I don't believe in building up credit in someone else's account so I just keep a monthly eye on things - last month I was a couple of pounds in debit so I paid it by credit card online; the previous month I was in credit by 50 pence!

I think it crazy to build up a buffer, just keep it in your own account and pay any difference as and when.

The energy companies have £millions in their coffers which belong to customers who build up credit. On previous threads people say with pride that they're something like £500 in credit!

tanith Tue 27-Sept-22 11:01:09

Octopus have just reduced my monthly DD to £23 from £91 due to the energy support scheme. I think I’ll leave it till I get the heating allowance in Nov/Dec then decide whether to top up as I am fixed till next year and in £150+ credit.

Shinamae Tue 27-Sept-22 10:48:17

Before all this happened I was paying about £97 a month for gas and electric, I have gradually put it up myself, octopus have not contacted me to put it up,I am now paying £175 a month of my own volition…

Blossoming Tue 27-Sept-22 10:47:55

I won’t be reducing my payment at the moment . I’d rather build up some credit. I can review it in a few months.

GrannySeaside51 Tue 27-Sept-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?