How much credit do you have in your energy account?

[Gwdihooooo]

I just want to gauge whether mine is right as we seem to have a lot of credit!

We have £900cr and pay £180 a month. We’re using approx £200 of energy (gas/elec combined) each statement.

The Oct/Nov usage hasn’t appeared yet.

How much credit are you in? x

They reviewed and refunded the built up credit after the summer, we're at 150 ish credit now and continued building credit over last winter. Usage has remained steady and credit going back up each month.

Just had an email to say they've reviewed our account again and they're raising our payment by 100 - ridiculous.

£2066 in credit and I pay 300 a month - we had a quarterly bill 2 weeks ago, so I have a bit of a buffer as we are coming to the end of a 2 year fixed deal so my gas and electric costs will practically double from 1 Jan

We are high users of electricity but low users of gas so i have got rid of any fan heaters. I already had 2 dehumidifyers, so using those in the conservatory when drying clothes rather than the tumble drier. Just trying to cut all costs down for everything

We paid £150pcm back in 2021 but our supplier was one of the first to go ķaput when prices increased and we were moved to British Gas who were shit, didn't send us a bill for 6 months then sent us a red bill in March this year (first bill we got despite asking them to give us an estimate before that). Then we were told they wanted a monthly payment of £350 which we knew would be too high and now (despite getting paid back over £700) we are still £800 in credit. We're using less heating now I'm back in the office so it's frustrating but we at least can afford these high bills, god knows what it's like for those on lower incomes who have been messed about as much as us.

I don’t understand why people overpay their bills like this? Can someone explain?

£1500 credit but haven't had a bill since the end of August.

It doesn't make much sense, but I get a strange satisfaction from having a really low monthly direct debit

Nearly £600 but I've requested some back. I'm keeping my DD as is and will build it up again. I'll use the credit money I get back for Christmas so i don't have to take out of my pay.

i guess if you have no debt at all it might make sense but surely you would be better off paying off a credit card?

I absolutely agree, and if I had outstanding debts such as credit card debts, I'd definitely pay those first because of the interest. I'm lucky to have no debt at the moment though

The energy suppliers deliberately insist you overpay (it increases their profits). When we move to DD with British Gas we told them we wanted to pay less because we knew our usage wouldn't be what they were predicting but they refused to reduce it. Few months in and surprise surprise we've built up masses of credit which they have partially repaid. Like I said it's frustrating but we had the same issue when we bought this house and the monthly DDs slowly came down. We've got a high income and we haven't scrimped on heating the house, heating is on all day and yet we still get this so it doesn't surprise me that others have even bigger credits if they are watching usage more than us.

Oh, and we have no debt except the mortgage so that's not a consideration.

£1,100 in credit. This thread has just made me email and ask to reduce the DD as the credit is still increasing every month. When I try online it says I can only increase it 🤔

£600 in credit
Paying £100 pm

I asked for a refund yesterday, absolutely ridiculous amount of cash they have

And if they are going to everyone imagine the interest payments they are getting???

Ask for a refund!

@JaninaDuszejko but you could overpay your mortgage?
I’m only on my phone but it’s outrageous for so much to be held like this. If you scroll back there must be millions held if this is being replicated around the country. I mean surely it would be better to pay your council tax ahead as many councils are facing hideous cash flow problems.

£300 now as I’ve just had £600 returned (I requested it). Paying £260 a month and only been using £150ish which has gone up to £200 this month after having my heating on. Tariff is fixed until the end of April so won’t have a massive hike until then.

£666. We pay 222 a month and haven't had a bill yet (moved in august)

We are £1800 in credit! We pay £450 per month. We have a large cold house and we have drastically reduced our usage. Despite that, my smart meter is regularly showing £18 per day. I find it terrifying because even though we have lots of credit, I know I will work on way through that quite quickly now, and when prices go up again.

Because I'd rather pay a reasonably steady £200 a month than the bill varying between £50 in high summer, and 350 in December.

Time of year for one thing. So some people will be massively in credit now if they joined in spring and have built up credit to see them through winter. My next spring their credit amount will have dropped a lot.

i will likely be in debit by spring but will then build up into credit again over print/summer/early autumn.

Also nearly £3k with Eon. We took advice and reduced the DD to £1 monthly.

Getting a smart meter, the estimates were just ridiculous.

£600 credit - after Yesterdays bill (6 weeks) bill £250
Monthly dd is £130 (was more but eon reduced it recently, wish they would have left it).

£628 in credit. In pay £170 per month plus the £66 support payment. Last months bill was £170.06
I expect next months will be around £220ish then probably around the £300 mark for dec/jan/feb. They have asked to put my DD amount down to £145 but I'd rather not I like knowing that if I need to put the heating on extra some days I've got a bit of a buffer. Only having it on 3 hours per day at minute.

@ChristmasCakeAndStilton Because I'd rather pay a reasonably steady £200 a month than the bill varying between £50 in high summer, and 350 in December. but this is what your own savings account is for. Why give that money to someone else to hold when it could be making you look more financially stable.

Zero. I don’t allow the energy company to direct debit my bank account for this very reason - I pay my bill quarterly, and just give them the exact sum I’ve used. Why are people giving interest free credit to these obscenely rich companies?

So you can pay a fixed dd but have a variable bill depending on the time of year. It makes total sense