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How are you managing energy direct debits?

(82 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?

Blossoming Tue 27-Sep-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.

Shinamae Tue 27-Sep-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…

tanith Tue 27-Sep-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.

Riverwalk Tue 27-Sep-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!

henetha Tue 27-Sep-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.

karmalady Tue 27-Sep-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

Blossoming Tue 27-Sep-22 11:12:12

I’m not crazy Riverwalk, I simply don’t want the hassle of an unexpectedly large bill.

HowVeryDareYou Tue 27-Sep-22 11:13:37

I'm with Eon Next. Before all the energy price increase, we paid £120 a month. It then went to £145. It's currently at £191 and we're £160 in credit. I'm leaving it as it is, for now.

Esspee Tue 27-Sep-22 11:18:23

My direct debit has gone down by the subsidy amount so I’ll be paying less than last year. I would rather have money in my bank than theirs.

Beautful Tue 27-Sep-22 11:20:36

I am also with Octopus, my DD is quite a lot, quite a bit in credit, but as long as I can afford the payment I will continue as don't know how bad winter will be & need the heat more. I am using an airfryer saves me using my electric oven much quicker too. Today had a dehumidifier so hopefully will save a bit instead of using my tumbler dryer, although won't use it constantly, got to try these saving devices if we can

M0nica Tue 27-Sep-22 11:23:39

Thank goodness we just pay our energy bills quarterly, when the bill arrives. We have a budget account where we both put a fixed sum in every month to pay all the regular household bills. At the moment it is running at a comfortable surplus

kissngate Tue 27-Sep-22 11:52:05

We are with E.on next. They have reduced payment to £13 pm we are in credit £70. Might increase to £25 pm but dont want to build credit up much more.

henetha Tue 27-Sep-22 12:42:46

PS. Well, blow me down. I've just had another message from them saying there will be an increase in my DD after all.
But not as large an increase as they first said.

Charleygirl5 Tue 27-Sep-22 12:54:10

I am waiting for Octopus to get in touch with me and I am certain they will reduce the £98 a month I pay as I have a reasonable amount in credit. I am on a fixed rate until next July. so I am fortunate.

Charleygirl5 Tue 27-Sep-22 13:11:13

Octopus has just emailed me and my monthly payment will be £31. I am not complaining.

Razzamatazz Tue 27-Sep-22 14:10:30

I've just logged onto Octopus, I'm dual fuel and on a fix until March 2023. £241 credit I've managed to build up over the past few months, I'm not going to ask for a refund.

My DD is set at £140 per month, from 1/10/2022 they will be reducing it to £72 with the government energy subsidy.

I have a link to Octopus for £50 credit if anyone wants to change to them.

karmalady Tue 27-Sep-22 15:06:23

I have not had the e mail from octopus, it is easy to see the new dd on your account and to adjust your dd to what you want it to be

Aveline Tue 27-Sep-22 15:10:29

EDF say they will pay £66 into my bank account each month. I'm already in credit of £700 so I'm not too worried about this winter. I've been being careful all year long before news of the big rises came out.

DerbyshireLass Tue 27-Sep-22 15:19:10

I'm with EDF too. Checked my account, currently £325 in credit. What with that and the rebate i should be ok so feeling a bit less worried about the winter now.

SusieB50 Tue 27-Sep-22 15:36:18

I’m with EDF , with a smart meter . I have had an ongoing text conversation with them as they wanted to put up my DD from £106 to £325 despite being £250 in credit . They told me that my electric meter was not sending readings via the Smart meter . So I managed to crawl under the stairs and gave them readings . My Home Screen hasn’t been working either . I have now changed my bill to be the amount used each month as I want more control over it . EDF can’t give me an answer as to why my DD needs to be raised by £200 if I have a large credit on my account .

Silvergirl Tue 27-Sep-22 15:56:40

I just pay my bill when it comes in every quarter. I like to feel in control. I seem to be in the minority.

rockgran Tue 27-Sep-22 16:08:52

Ours should have gone up by about £50 but then we got an email saying it has actually gone down because of the £66 per month (for six months). Chuffed to bits! grin

anna7 Tue 27-Sep-22 16:12:32

We have had exactly the same experience with EDF as you SusieB50. We were paying £120 pm and they wanted to increase our bill to £370! We were also in credit by £250. After many phone calls, emails etc we are now paying as we go. I am not impressed with EDF

Maya1 Tue 27-Sep-22 16:25:05

We are with Eon next. We were paying £170.00 monthly, we are £200.00 in credit. Just received an email from them to say with the government subsidy payments are now going down to £103.00 until next March.
I'm not sure what to do as I thought payments were going up in October. We are having a new boiler fitted mid October as our boiler is 38 years old so that should help.