Massively in debit with energy supplier :(

[JMSA]

I'm with EDF for gas and electricity. Just before Christmas time, I asked them to reduce my monthly direct debit, as I was in credit by quite some way and it was an ideal time to save some money.
Tonight I thought I'd do some meter readings, just to check that everything was balancing out ok. For the first time ever, I'm in debit ... by nearly £500!
My current tariff is variable (I've only ever had fixed, but this wasn't an option at my most recent renewal time), but they have sent me an offer for a fixed tariff. Should I go for this instead?
I'm really worried. I've never owed them this much money before. For reference, I live in a Georgian 3 bed basement flat. Massive old radiators, mostly single glazing, newish boiler. My gas bill in particular is through the roof.
Thanks for reading

You mean you’re in debt? You owe them money? Debit is something different?
In about 6 weeks you’ve gone from being in credit to owning them £500? Those numbers don’t sound right.

I wouldn’t worry too much personally. We owe around £400 and I’m just at the point where we both work too hard to sit in a freezing cold house. Hopefully it’ll balance out over the warmer months but it is what it is really!

I would ask for them to double check their figures....it seems odd to me to have that big a bill

£500 isn’t that much in the grand scheme of things. Can you increase your monthly payment at all? Is there any way you can reduce your usage?

You need to look at the unit rates that are being offered in the fix, and do some reading about how much the variable tarrif is predicted to drop in April and July.
I wouldnt be fixing right now - but I'm not you.
Can you afford to put your direct debit back to where it was? Do that now if you can.

Also, are you about to send a direct debit to them? On say 1 Feb or something like that? In which case you will use a bit more fuel (say £100) but give them £250, and the debt has dropped to £350. Obviously work out that with your numbers if there is a payment soon.

I know, it's crazy! The mad thing is, when I spoke to them and Christmas, the lady asked if I wanted to pay less than the amount I suggested! Which, as it turns out, was already much too low.
Yes, I am in debt. The account is in debit (or that's how they've put it in my statement anyway).

@Rabbitmad89 I'm glad I'm not the only one!

Yes, will need to do both.

Yes, will do.

Is the 500 pounds from December to now? If so, that can't be right.

How often do you do meter readings? Were you only 'in credit' because they were estimating your usage low and you hadn't submitted readings in a long time?

And the teens have been spoken to about the duration of their showers (which run off the gas boiler).

I have a smart meter but still submit readings every few months. The smart meter only works for the electricity side of things; it has never connected to the gas (they've checked it out but there's nothing they can do).

I've just checked and can tell you that I reduced my direct debit amount on the 24th November 2023.
So it really hasn't been that long

Did you do a meter reading when you spoke to them about reducing the monthly amount, and / or have you done a meter reading now?

Surely you can't have used gas worth £500 + whatever your new monthly amount is + whatever credit you had on the account in ONE MONTH!

Either your bills were estimated up to now and were too low, so you weren't actually in credit in December, or your bill is on an estimated reading now that's too high, or you've got a gas leak.

X post - even for 2 months it's insane levels of usage, surely?!

I took meter readings when I reduced the payments in November. I remember because the lady waited while I dug out my ladder to enable me to see the meter displays!
And I submitted readings tonight, just to check everything was on track.
Ignorance was bliss 😭

It's crazy. I don't think I'd do variable again.

I wouldn't fix right now (work in the sector) it's not a guarantee but prices are predicted to drop in April.

When did you last submit a gas read? If your gas smart isn't communicating you need to send a read monthly ideally to get an accurate bill or they may estimate it. If you haven't done one recently, submit one as soon as possible and ask for an updated statement. Always submit one on price change dates as well (1st Jan, 1st April, 1st July, 1st October) increase your direct debit to get it paid off.

@Beezknees

Thanks for your reply. Good to hear from an expert in the field! My meter reading dates have already been posted

Thank you everyone - appreciate your time.

It does sound like you've set you're payment too low, but it is normal to built up a debt over the winter but you make this back by 'overpaying' for your usage in the summer.

is a direct debit payment about to be paid to them in the next week or so? I’m asking because my account always seems really high if I check it just before a payment is due, but then after the direct debit has been taken, the amount doesn’t look so scary!! Hope it is something like this!!

How often does EDF bill you? Some companies let a credit build up for a few months and only bill a couple of times a year (even if you have a smart meter).

How much are you paying? Can you not just increase your payment again? I wouldn't fix just now if energy prices will be going down in a few months. I have been on the variable rate for ages now as there are no good fixes and prices are not very stable.

To be clear, you know that variable Vs fixed is the cost PER UNIT, right?

So being on a variable rate traffic won't have caused this problem, and going onto a fixed rate one won't fix it.

How much credit were you in, what was your meter reading in November and what is it now?

Why have you still get single glazed windows?
Are you renting - landlord should have replaced them, or owned - can you get a grant? Double glazed would save a huge amount.

When does your direct debit get credited to your account? I do readings on the 1st of the month and it looks like my account in in debit but then my payment credits the account a couple of days later and puts me back into credit again.

Although Octopus creates a bill monthly so I can see every month if I'm paying the right amount for my usage while building a bit of credit for the colder months

I own my flat, which is in a Conservation area.
It will be sold in a few years anyway (divorce settlement), at which point I'll move to something no doubt less beautiful but more energy efficient

Up your DD by £20 and by summer it will be balanced?