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Energy payment holiday?

8 replies

PeloFondo · 26/09/2022 00:46

Any ideas what this means? I'm going to contact them but I'm very confused
I'm going from a fixed rate to variable, I get that. And the payment is lower because of the £400 energy credit, I get that too
But I've never asked for a payment holiday Confused

Energy payment holiday?
OP posts:
Precipice · 26/09/2022 00:50

This looks like it's because your monthly DD is lower than the monthly subsidy that will be paid into your account by the government.

Fixed rate to variable has nothing to do with the monthly sum paid, only the price per kwh.

SeasonFinale · 26/09/2022 00:51

If your direct debit is only £60 you will have a payment holiday ie. no payments for 6 months as the £400 is being paid at the rate of £67 a month for 6 months so will cover your bill for that period hence you will have a break from making actual payments from your bank account.

PeloFondo · 26/09/2022 00:53

Precipice · 26/09/2022 00:50

This looks like it's because your monthly DD is lower than the monthly subsidy that will be paid into your account by the government.

Fixed rate to variable has nothing to do with the monthly sum paid, only the price per kwh.

Yes totally get that

I have explained it badly!!
£60 was my fixed payment
It was going to £100 DD on the variable and has said £100 for the past few weeks
When I logged in today it says the £41 suddenly so that's the £100 minus the energy subsidy? All makes sense so far

But then, payment holiday...

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PigsInBlanketyBlankets · 26/09/2022 00:57

Right. Well it'll be fine won't it

Redglitter · 26/09/2022 00:59

If its Octopus, contact them, that came up on my account last month. I contacted them & it was a computer error - allegedly - I just ignored it & paid as usual

rubydoobydoo · 26/09/2022 01:17

We're with Sainsbury's too and just checked ours - we're on a fixed rated at the moment but due to go onto standard variable from 5th October. Last week it was ordinating our direct debit at £278 per month - now it's dropped quite a bit!

A work colleague with a different provider was telling me his had emailed to say they were adding the £400 government subsidy on in installments over the next few months - I'm thinking it must be that. Tempted to keep topping up to our current direct debit amount even though we're in credit, but I must admit I feel a bit reassured we might be able to put the heating on at some point now - our front room is currently 16° and I'm sitting here wrapped in a fluffy blanket refusing to crack 😅

Energy payment holiday?
rubydoobydoo · 26/09/2022 01:18

Predicting, not ordinating!

PeloFondo · 26/09/2022 08:18

It's Sainsburys Smile
They've got back to me saying it's because of the energy payment scheme, but I'm waiting for an update
It's obviously not because I can't go from paying £60 on my v low fixed rate to £41 on a much higher variable rate...

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