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£400 and direct debits

31 replies

Belledan1 · 28/05/2022 12:36

Correct me if I am wrong but if the money is going straight to your fuel account , I wonder if the companies will automatically put the direct debit down as some may be in credit. I bet some will try not to. Makes we think sometimes if should pay quarterly and put so much away a month and hope it covers it. Also pay as you go will they be automatically credited on their meter.

OP posts:
JustTheOneSwan · 28/05/2022 14:27

Don't forget @Gingermoth the expected £800 increase is for the average household.
It sounds like you are well below average.
As a rough estimate if you are on the standard variable rate (not a fixed tariff) if you use the same amount of fuel as last year, your bill for winter will be up 50% so £300. That's based on the predicted price rise.
If you are worried you won't be able to afford it you can contact your supplier to see if you are eligible for some help (you don't need to be on benefits of a pensioner) and don't panic. Even if you end up getting a big Bill you will get extra time to pay it off. They won't be in a hurry to chase anyone.

Gingermoth · 28/05/2022 14:46

I'm fixed until December 23

JustTheOneSwan · 28/05/2022 14:54

Even better. Use the same or even less and you'll pay roughly the same.
Hopefully by the time your fix ends something will be done about the energy company and this profiteering.

Threebutterflies · 28/05/2022 15:21

My gas and electric are paid by meter though ? I thought they just pay it into your bank account

whowhatwerewhy · 28/05/2022 15:26

I think with the price cap due to rise again the 400 will soon be swallowed up .
If anything it will mean DD don't go up by too much more rather than down ( unless your fixed ).

JustTheOneSwan · 28/05/2022 15:32

@Threebutterflies it will go on your key or credit to your app if you use one.
Depending who you are with, check supplier website for dates.

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