How much credit with energy company?

[Isyesterdaytomorrowtoday]

How much credit would you say is sensible to have with your energy company at this point in the year?

we have quite a bit and my DH is keen to have them refund some but I’m nervous about rises etc- we aren’t on a fixed tariff. also trying to work out if we can’t get them to reduce DD.

how conservative should we be? Or just leave it til March and get it then?

I would certainly object if they tried to put our DD up!

We've lived here 17 years and with Scottish Power. We have a graph of how much usage this year compares to last year. I'm surprised our electricity use this year is high compared to the year before as this year I've stopped using tumble dryer and packed the hot tub away and done all I could to keep costs down. I need to give them a call.

£860 but it's our outbuildings and workshop which they say is £30 a month. We pay £200 as we are quite sure 30 is neither here nor there and one day we will get a whacking great bill!!

Our new house will use the same supply once it's complete so we will use the credit up there pretty sharpish!!

£460 credit, DD £165, last bill for the month £115. Leaving it there will until I find out what's happening after April

We have 400 pay 190 a month and currently get the extra 66. So need to go over 256 before it eats into the 400. Currently using about 160 ish no hearing yet. Think we will be okay but am going to leave till March and withdraw then for a holiday.

£430 in credit. My DD is for £165 per month

I've not got any as I'm perfectly capable of managing my own finances and see no reason for my money to be sitting with other people.

This. I don't overpay in Asda in case my shop is more expensive next time.

We had some but they refunded it without asking 🤦🏻‍♀️. It was about £700. We're paying £300 a month though.

£740 credit and £150 a month DD plus the £67 govt help.

I'm leaving it there. I wont need the credit this winter as my usage isnt horrific but will absolutely need it next winter!

If I left it in my bank account I know it would get eaten up by something else so I'd rather keep it on my utility acct where it'll be needed.

We are £1000 in credit and not even considering taking it out.

Around £500 in credit but only been paying since Feb. Paying £215 with the govt help, three bed detached. Currently our usage has jumped from around £2-3 pound a day to £4-5, but that still should bring us in under for the next month or so. Over the summer they kept trying to up it to £250-300, but every time I called they said we shouldn't!

0.00 No credit at all. I now pay quarterly based on meter reading so it seems to be accurate.

Zero .. surely it's better in your bank account

I've never paid by Dd

I'm billed Quarterly and pay for what I've used. You can also do this monthly as well. But we chose quarterly.

I wouldn't allow anyone to hold on to my money, I'd rather hold onto it myself

On Martin Lewis' podcast the other day, he said that you should currently have 2 months of average use in credit right now going into winter.

Our bill day was yesterday and it was £110.07. Not really had the heating on, but have used the tumble drier most weekends to get clothes dry.

The current balance doesn’t reflect the monthly DD, that went out on Monday yet (£225 ish) nor this months government payment. We Will be £743.58 in credit when they show.

I have just under £500 credit. I'm paying £180 pm (just got them to lower it a smidge) and then the £66 on top of that. My usage for October (smart meter) is looking to be about £150. I haven't put the heating on yet, but have used the tumble drier a handful of times. I'm on the standard variable tariff with eon.

Same @Indoctro

I'd rather have it sitting in my bank account. The energy company get exactly what is owed, and no more.

£540 in credit.
£130 a month DD. Fixed with octopus and meter readings sent every month.

I'm trying to build up a huge credit for when my fixed ends next summer and I get moved to universal credit and I probably lose a lot of money.

The bill is due in the next few weeks but we have £800 odd credit ready for it. Really worried to hear they are asking people in credit to increase direct debits again, because that would push us over the edge. (Disabled partner home all day and needs the heating on.)

Bill is due middle of December.

Have £700 credit was paying DD of £170 a month but they told us we are building too much up and have reduced it to £150, which is mildly annoying as we were paying £70 and upped it to build a cushion.

On our old rate bills came to come in around £350 so was working on the theory that it would double so the credit will soon be wiped.

In debit £1800 😩

I am £1.5k in credit. My Octopus DD is £345, but will be reduced by £66 from this month due to govt funding.

My combined bill per month is about £150, that's with no heating thus far.

I'm reluctant to change, but my mortgage is also going up and I could do with reassigning some of my credit.

I think it depends how much trouble you'd be in if suddenly your payment went up £200 or £300 a month. If you'd struggle with variation then build it up, but if it'd be annoying but not the end of the world it's better for your money to be with you especially now there are savings accounts actually paying semi-reasonable interest again or if you have any debts on credit cards or overdrafts not at 0%, paying those off first seems wise.

Nothing. I was £500 in credit when my fixed tarrif ended just after the new price cap kicked in. I asked for a refund as I don't want them sitting on my money earning interest on it when I could be using it/earning interest on it. I calculated how much I would be using over the year, added a bit on then took off the £400 and divided by 12 to get my new monthly payment which I asked them to change my DD to. I'll be slightly in debt at the end of winter then build back up over the summer, if they haven't asked me to increase my payment by then.

I have cancelled my DD as we are £700 in credit and they wouldn't refund it and won't offset it against our bills. I will pay the bill each month and let the balance run to zero. I find it infuriating that my energy company thinks that I need a zero interest savings account with them.