Are your energy bills currently in credit?

[caniquitwork]

I am £98 in credit, but the energy provider says I can’t reduce my direct debit - surely being in credit at the end of winter is good? I am
paying £260 on the 8th so then I will be even more in credit?
yabu - keep payment as suggested by energy provider
yanbu - reduce your payment, they are overcharging you

They can't make you go higher! Say no

It's clear from all the PP that you do need to keep an eye on your DD payments and credit levels but in what way is DD a 'total rip-off' as you claim. Going from payment on receipt or pre-payments to DD will save around £10 on average per month. And I don't see how being in credit of £360 on pre-pay is any much different to being £360 in credit on DD. And is that £150 what you pay in summer or winter? Sure there are some odd examples cited on here of people with plenty of credit and the energy company wanting to increase the DD but they are just that, odd.

Another variable DD person here. I read my meter yesterday which generated a bill for £240ish to be taken on the 16th.

Yes but not by much, it's quite well adjusted. My mum has over 3k credit now with British Gas and despite asking them several times over the last year or so to send some back to her they still haven't!

We are still in quarter one and as a previous employee of an energy company I would say always wait until March is over and done with. If my photo memories are anything to go by we still get snow where I am both February and March so the heating will be on more. My gas consumption tends to drop in April.

I am with Octopus and have just requested a refund of £250 which I got and that leaves me £350 in credit. It has been milder here so the heating hasn't kicked in as much. I feed the meter readings into a spreadsheet and can see the graphs overlaid year on year.

@caniquitwork If you want to take control of your monthly payments swap from the DD which they control to a standing order which you control. You should still get the same benefits of the DD ie the tariff rate you are on. With banking apps managing the standing order makes it very simple. They will notify you if they feel you need to increase your payments.

Energy companies have a duty of care to not let people get into debt so a small credit balance is good. If you look at your bills on a monthly basis your DD payment probably does not cover your consumption over several months, summer you use less, winter you use more. The vast majority of people are paid monthly so having a consistent amount is easier for most people to budget for.

I’m about £250 in credit and they keep trying to put my direct debit down and I just keep going into the app and putting it back up. I prefer to be in credit for peace of mind. If it gets to May and I have a significant amount of credit I ask for some back and then spend it when I go on holiday. So a savings plan too 😛

That is shocking! My Dad is with British Gas and got a rebate last year with no issues at all.

Yes, it's how I prefer it.

I'm with BG & billed 1/4ly (ish) so currently only billed to the end of January.

the next bill will probably use a chunk of it as since I became disabled I feel the cold more ! so need the heating on higher & I'm home much more.

i prefer having a set DD each month & happy to build credit over the summer months.

I pay by variable DD now as well, I was annoyed at them continually holding onto my money as I was always in credit. So now I put away the same amount into a savings account each month and just pay what I've used to Eon, so the money sits in my bank account instead. It only earns me pennies every month but it's the principle of it!

Our direct debit was £8.
They gave us £800 back last year before winter. We're about £100 in debt with them so upped the DD to £30 a month. Well leave it like that for a few months. Solar kicks back in anytime soon and it's getting warmer.

I'm about £350 in credit with Octopus. DD at £80 per month. I use about £200 gas and electric per month over winter, but I usually make one off payments regularly, to keep the credit topped up over the warmer months so that I'm not fretting about putting the heating or the oven on in winter. I prefer doing it this way, so that I don't have a large monthly DD.

I'm only about £100 now but Octopus reduced my dd a couple of months ago from £149 to £80, so should be fine going into warmer months

I’ve just requested £300 back, had £500 a while ago. We pay £402 a month

It's such a racket and pisses me off no end. Also, when the prices go up and they say, 'Well you used this much before so now you have to pay this increased amount'. If I go into my local shop and buy three apples every day for 50p each, if the shopkeeper decides to put the price up to 75p each, I'm free to choose to just buy two apples a day in future and still only spend my £1.50. They can't force me to start paying £2.25 and keep taking three apples. Maybe I'll start putting a jumper on. Maybe I'll start using my gym membership more and use the shower there. Maybe I'll change my approach to cooking or go and work from my local cafe in the day. Maybe I won't but stop telling me how much energy I'm going to use before I've used it and definitely stop trying to increase my direct debit when I'm in credit coming out of winter you absolute chancers!

Slightly in debit but it'll go into credit by autumn.

In credit. However, Octopus do recommend that we reduce our direct debits, but I’ve maintained them so I have a slight cushion.

You may find this article interesting. It suggests that at end of May, you should have least credit, and then build up to maximum credit in November.

https://blog.moneysavingexpert.com/2023/3/martin-lewis--energy-bill-credit---how-much-is-too-much--stop-th/

No.

I pay by direct debit with Octopus but I can adjust the amount online if needed to reflect my latest bills.

I don't see why I should give utility companies any extra money rather than keep it in the bank...

I just pay for what we’ve used each month, can’t stand the hassle of it otherwise.

In credit by quite a bit but we are due our next quarter bill soon and expect that it will wipe out all bar around £100-£200 of it.

In credit, by quite a large amount.
They’ve tried to reduce my DD, I just increase it back up.
I like going into winter with a good amount of credit and, if it was in my bank, it may get swallowed up by some other bill. I’d hate to go into winter worrying about the cost of heating.

i am in debit, still £100
will have a read of article

Yes, and they're knocking £15 off my DD as of this month.

I'm in credit but only by about £300. I've recently reduced direct debit from £250 pcm to £210 pcm. I don't use much gas in the summer. Also I am making the most of the cheap 3.5p electric overnight. I charge up car, put on dish washer, have washing machine and tumble dryer on over most nights.

Scottish Power.
£33.30 in credit
£117 / month DD for gas and elec (2 bed terrace, 2 people)

Most of the big providers switch you over to variable direct debit if you ask them. They will also give you a full refund of credit when you do so.