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How much credit do you have in your energy account?

134 replies

Gwdihooooo · 24/11/2022 18:06

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

OP posts:
itwasntmetho · 25/11/2022 16:02

Athenen0ctua · 25/11/2022 15:49

@itwasntmetho Yes, I have read that some billing companies are being unreasonable. I am with Octopus and they have let me withdraw some of my credit balance in the past, the system let me take it down to just over £200 at the beginning of winter. I've just reduced my dd from £23 to £10 (lowest it would allow, then the £67 is credited to my account too). I can put it back up or just pay the extra as needed when my credit runs out. I can do this all online.

Some are, and when you speak to them they can speak with such certainty that you are not permitted to have your money back or reduce your DD that it’s easy to feel like what they are doing is lawful or that you had a great result being “allowed” to reduce your DD to £43 or whatever when they’re sat on over a grand of your money!
It’s very infantilising telling a grown adult that you need to look after their money for the winter and that’s why they can’t have it back when they have done nothing to indicate they will default later on.

NewNameNov · 25/11/2022 16:08

Only £200 here as it was only recently I saw that our DD had been reduced by the £66/month for the winter fuel help.

So I've put the DD up by £70 so we hopefully have some spare in there as we're used to the monthly payment being what it is and would rather not end up owing them.

Itisbetter · 25/11/2022 17:37

the system let me take it down to just over £200 at the beginning of winter. I've just reduced my dd from £23 to £10 (lowest it would allow, they allowed you to remove some of your money but insisted they hold £200?! FFS. It. Is. Your. Money.
you can cancel a dd at your bank you don’t need to ask to do it.

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sarahc336 · 25/11/2022 17:45

I was shocked to see we were £530 credit last night, trying to keep the heating off as much as we can but it is cold now it has to be on some of the tine doesn't it

Athenen0ctua · 25/11/2022 19:13

Itisbetter · 25/11/2022 17:37

the system let me take it down to just over £200 at the beginning of winter. I've just reduced my dd from £23 to £10 (lowest it would allow, they allowed you to remove some of your money but insisted they hold £200?! FFS. It. Is. Your. Money.
you can cancel a dd at your bank you don’t need to ask to do it.

If I cancel it I will be moved to higher rate which will cost me 6% more?

WaddleAway · 25/11/2022 19:34

Paying more over the summer to cover the winter bulls suits me and the way I organise my finances. A few weeks ago I realised I’d built up too much credit so I asked for it to be returned and had it back within 5 days. I don’t want to pay more by not having a monthly direct debit.

WaddleAway · 25/11/2022 19:37

bills, not bulls!

Lisarinnaslipss · 25/11/2022 19:51

I was £40 in credit in July. I'm with EDF and they only bill twice a year. I send in monthly readings and would prefer quarterly reviews so I could amend my DD as needed. I increased my DD to £180 a month for a 1 bed flat as I don't want to be hit with a massive bill in Jan when my next review is due.

Namaste6 · 25/11/2022 22:04

£910 in credit. Next bill due March.

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