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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

£400 in credit with energy company, would you ask for it back or leave it?

45 replies

strawberryjeans · 22/04/2023 20:18

Pay by direct debit each month so am used to it being a set amount

We’re £40 in credit with electricity, so obviously not very much. But somehow we are £400 in credit with gas?! We have an electric shower and hob so the only gas we’d be using would be via heating surely which won’t be used as we come to the summer

Is it better to leave the £400 in the account as a buffer or to ask for a refund?

OP posts:

EnterFunnyNameHere · 23/04/2023 07:30

I'm surprised how many people let the energy companies decide their DD, they will almost always take more than they need and you end up in massive unnecessary credit with them.

Just take your annual usage numbers, work out what the annual bill will be (including standing charges), add a bit of contingency and divide by 12.

I ended up in credit due to the heating oil support scheme coming in via my electricity supplier, so I just did the above but minus the oil payment before dividing by 12, so in a year I should be back to business as usual.

OP, probably depends on whether you particularly need the money for something else whether you get a lump sum or not - it's your money though don't forget.

CeeJay81 · 23/04/2023 07:31

I'm £1000 in credit(soome of this accumulated when i was on a cheap tariff last year). Eon have reduced my dd a lot. So I'll keep it that way and enjoy having the extra money for a few months. When it's down to £4-500 I'll put it back up accordingly. Hoping prices come down later this year. If I were you I'd keep that amount and if the prices come down then maybe ask for some of it back then.

bamboonights · 23/04/2023 07:31

cadburyegg · 22/04/2023 20:32

Similar here, £544 in credit. Was very fortunate to be eligible for warm home discount and last year I put some spare money into my account to build up a bit of a buffer. But I'm wary the bills will be considerable this winter too so I haven't asked for a refund. I have changed my DD though, it was £167 a month and I've knocked it down to £120.

How can you change a DD? I couldn't do that as it's up to the energy company and I have no power over the amount? I can only change the amounts of Standing Orders.

SorePaw · 23/04/2023 07:35

Hibye23289 · 23/04/2023 07:25

I had 400pounds credit and enquired about a refund, since then they have basically wiped the whole lot to cover my bill! Funny that!

@Hibye23289 im not sure about other companies, but if you're with British Gas that's because they have the direct debits for the period, but not the corresponding bills, so it's not 'real' credit as the amount you have used hasn't been taken into consideration, only the payments.

CeeJay81 · 23/04/2023 07:36

@bamboonights I'm with eon and it's easy to change the direct debit amount on the website. I think they will only let you reduce it by a certain amount? Although I've never done it, as they reduced mine automatically.

SorePaw · 23/04/2023 07:37

bamboonights · 23/04/2023 07:31

How can you change a DD? I couldn't do that as it's up to the energy company and I have no power over the amount? I can only change the amounts of Standing Orders.

Show quote history

you can change the DD on the App with British Gas. Easily.

FirstnameSuesecondnamePerb · 23/04/2023 07:51

We are £400 in credit. We pay £140 ish a month but are still on an old tariff til October (thank you Martin Lewis!). Most of it is the extra £60 a month from the government. So I'm leaving it as it will just get swallowed up next Winter. If you are on the higher tariff now, and are still up, it might be worth having some back, esp if you have other bills to pay!

thebellagio · 23/04/2023 08:01

JaninaDuszejko · 22/04/2023 21:06

We had a credit balance in the autumn and British Gas gave us a large (unasked for) rebate. We're now in debt 🙄. Luckily we have plenty of savings and a high income but it's really annoying. Just spent the afternoon discussing what are the best options for insulating our house vs getting some kind of local energy generation (solar energy vs air source heat).

We had the same with BG.

was paying £85pm in gas, had built up £450
credit then in December they randomly sent us a £300 refund yet upped our DD from £85 to £135pm! Clearly we were in the right amount in the first place!

Toddlerteaplease · 23/04/2023 08:13

I've been in over £300 credit all winter. My fixed tariff ends next February. So I'm keeping it for then. The £66 paid for an ebike.,

Toddlerteaplease · 23/04/2023 08:14

My £66 was pain in cash. So no difference to bills.

ZoBo2023 · 23/04/2023 08:17

I wonder how much interest the energy companies are making each month with all these credit balances just sitting there?

Plottingspringescape · 23/04/2023 08:22

I'd ask for it back and stick it in the highest interest savings account you can get. Why should the energy company get the interest when it could be earning you a few quid?

Effingmagicfairy · 23/04/2023 08:25

We were £700 in credit last October, now £550, it’s nice to have a buffer so I’m presuming as we aren’t having the heating on as much (once last week as we have alternative heating source) that we will build up an even bigger credit to start this winter, will see what the credit is and may ask for part refund. Our DD hasn’t changed other than the help we got.

AllThatFancyPaintsAsFair · 23/04/2023 08:35

bamboonights · 23/04/2023 07:31

How can you change a DD? I couldn't do that as it's up to the energy company and I have no power over the amount? I can only change the amounts of Standing Orders.

Show quote history

Whos your supplier? With EDF I do it through my online account,takes about 30 seconds

Itsnotclean · 23/04/2023 08:39

Hibye23289 · 23/04/2023 07:25

I had 400pounds credit and enquired about a refund, since then they have basically wiped the whole lot to cover my bill! Funny that!

Funny that they correctly estimated your usage and therefor your direct debit so when you got a bill your payments covered it and you aren’t in debt….

RichardHeed · 23/04/2023 08:47

SorePaw · 23/04/2023 07:37

you can change the DD on the App with British Gas. Easily.

Show quote history

Increase perhaps, but to decrease you need to call them or live chat. It’s always been the case with BG

Yousee · 23/04/2023 08:48

I feel that energy companies are greedy bastards and would not be allowing them the benefit of keeping my money on principle. I'd rather earn my few quid interest and they can have it back when it's actually needed to cover a bill.

Susieb2023 · 23/04/2023 08:52

No wonder energy companies are raking in the profits with everyone leaving their money with them so they gain interest on it. Took mine out and put it in a savings account so I’m the one benefitting from it!

Positivelypatient · 23/04/2023 09:11

I've got 500 credit but have just reduced my DD from 192 to 125. With Scottish Power and they had a sliding scale for projected balance based on last 12 months usage which showed Id still be in credit by 200 on this new amount. I'll see how things go and if i need the money I'll request the credit back.

Singleandproud · 23/04/2023 09:16

BG have me an (unasked for) rebate from my Gas account as like you I don't use much, I put it straight into my electric account instead.

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