ENERGY SUPPLIER has reduced my monthly debits

Nice surprise but I would be wary as it's at the start of winter!

why did you let such a credit build up.
that is your money they are using, for free.
which company is it.
i would not be paying them any more until that credit is run down.

Suelondon yes i should remain cautious and had thought if you were in this much credit, in the past you received a lump sum around March time...so although its a nice surprise, they are holding onto monies which i could be saving in a savings account ..

You could pay the difference into a bank account earning decent interest, unless you are with Ovo who pay 5% interest on account balances, and save the money for increased winter bills. You are also entitled to be reimbursed the £400 as a lump sum instead of being paid back by decreased monthly payments.

Ovo have offered me a small reduction, based on my overall yearly payment, but I have decided to continue with the higher payments especially with the interest,to build up a balance for winter, which will see much higher bills.

i realise that some most people accept this system, but i don't.
i prefer to pay for what i've used.
no more, or less.

Suelondon

Nice surprise but I would be wary as it's at the start of winter!

This.

We are with E. ON they sent us notification fuel prices are going down. Then we got text to say our monthly payment was going up from £170 a month to £287. Based according to them on our usage they are just charging what they want.
I have spent so much time on the phone I cannot be bothered arguing with them. From past experience with different companies it’s too much hassle changing supplier.

I only pay what I owe

Ovo has recently reduced my direct debit. I now wish I hadn't let them as I'm only about £100 in credit.

welbeck

i realise that some most people accept this system, but i don't.
i prefer to pay for what i've used.
no more, or less.

Me too. I realise we are in the minority.

I know it's the 'old-fashioned' method of paying your bill, and one you are penalised for using, but "choice" - the mantra used to 'sell' privatisation of essential services - should still be ours to make and should not be subject to punishment.

I do use Direct Debits - but only for set amounts.

I appreciate it's a system that works well for some - no nasty surprises in the winter months - because you are paying up-front to avoid them. But personally I'm fortunate in that I can absorb the higher winter bills - and in fact they don't come as a shock because I can work out from the previous year how much I might have to pay and budget for it.

It really is all about personal choice.

OVO seem to be a cut above the rest though.

I thought about changing the way I paid from direct debit to usage bill only, to discover that Scottish Power would charge me £300 for the privilege! It's outrageous

Grandmabatty 300.00 to change to usage bill - outrageous scheme!!

Bea65

Grandmabatty 300.00 to change to usage bill - outrageous scheme!!

The thing is - using the DIRECT DEBIT method attracts a discount, so the energy companies will argue that you are not in fact being charged for paying the bill per usage... you just aren't getting the discount.

They win, regardless.

well, I don't see how this can be right! I don't know if you have gas, but assume like everyone, you have electric. In which case, the daily charge is 0.42p per day.....nearly the amount they are changing your monthly payment to. I would question this, rather than be faced with a horror of a bill when the mistake is discovered.

Dickens, you do very often say what I'm thinking, only you put it better than I could. On this occasion I have to disagree with you - in our experience OVO are awful! We had endless trouble with them last year (long story, entirely of their doing) and don't want to change anything about our account, like a spelling mistake which they have made, in case it all kicks off again!

Dickens I hear what you say. I suppose I quibble at being £450 in credit already but I can't move that money or change my method of payment without it costing me

I’m another who doesn’t pay fuel bills by direct debit. I pay for what I use. No money sitting in their account - I’ve never seen any sense in that.

My payments were halved for six months then EDF sent me £500. I'd obviously been grossly overcharged for a year.

Don’t forget we’ll also get our Winter Fuel Alliwance too.
Still at £500/£600 this year.

I’m with Octopus and have a balance of more than £500. Just had my new estimate and it goes from £88 per month to £108 per month fixed. Alternatively £112 pcm on variable rate. They did try to give me a refund and I can request one at anytime. Just now it’s staying where it is. It’s a bit of a buffer and stops me worrying about paying the bill over the winter.

I’ve never had any problems with Octopus. Great customer service

Our supplier (Octopus) has offered a fixed rate for one year at fifty pounds less each month for our direct debit than we are currently paying. We've accepted this offer - worth six hundred pounds - as I can't see fuel prices dropping to a level where this becomes a poor deal. At least I hope not!

I could have written that ayse
I’m £504 in credit with Octopus - brilliant customer service - but they’ve put my payment up from £170 to £230 per month. I’ll see how things develop, but probably request a refund.

We are with Octopus and had built up a surplus so got a refund of £500 just in time for the holidays. They reduced our direct debit too but I think I am going to up that because I don’t think it is enough.

Wheniwasyourage

*Dickens*, you do very often say what I'm thinking, only you put it better than I could. On this occasion I have to disagree with you - in our experience OVO are awful! We had endless trouble with them last year (long story, entirely of their doing) and don't want to change anything about our account, like a spelling mistake which they have made, in case it all kicks off again!

Oh!

I'm going on what people have said about OVO - I have no direct experience!

When these energy suppliers get it wrong - it really does seem like the devil of a job to sort things out - and that's obviously your experience.

Forewarned - I shall stick with E-ON!