Government £400 payment

[Heatherbell1978]

Like a lot of people I've just had my first D/D reduced for October for my Octopus bill. £67 discount over the next 6 months.

I can't find anywhere online that says this but I assume this means they will carry on paying the full amount I used to pay (£175) towards my account? Otherwise all they've done is reduce my D/D and my account goes into debit by £67 every month!

It’s credit on your account, not just a reduction in your direct debit.

Think of it as £175 going into your energy account, but £108 from you and £67 from the government.

Your energy bill will most likely go up by more than £67 so it's a contribution towards that rise.

I'm on a fixed deal for another year so not expecting this.

This is what I assumed but just can't find anything in the FAQs on it. My statement hasn't updated but I assume when it does it'll be clear on there.

I had an email from British Gas on it a while back, the £67 payment will be sent directly to my bank account a few days into the month for next 6 months (last payment March 23). I am continuing to pay my (recently increased) DD and this will help.

It did note in the email that if your bill was below £67 a month, you would still receive that amount, so assume @Heatherbell1978 you'll still receive it. I don't think it matters how much your bill is or what deal you are on.

Octopus will be applying the credit to your electricity account each month. They just haven't updated the details to show the credit yet

Yes I know I'll receive it, it's just the mechanics of how it works that I am wondering about. Happy to pay £67 less each month but will that £67 still be credited to my account. Otherwise my account will go into debit. I need to assume they've thought it all through but just can't see the detail anywhere.

From the FAQs