How much in credit are you for gas and electricity

[whatisforteamum]

Dh told me we are 700 in credit with them.
I don't want the heating on more than an hour a day until winter hits.
What is everyone s situation at this point.

£1500 in credit and we just reduced our DD from £465 pm to £420 pm on the OVO app as suggested by the app. Before the costs started going up we didn't take much notice but now realise our usage is ridiculous so we are cutting back on everything and I hope we can reduce the DD further as time goes on.

So you pay £3000 a year

how much are your monthly bills at the moment

you seem to be in a lot of debt and will get worse over the next few months

@NormaLouiseBates I wish I thought like you. I too can't afford more than I'm paying now. I haven't had the heating on once and my bills are already nearly double my DD. I absolutely dread what they will be when the heating does go on. It worries me so much as I have a little boy and I feel crap that I cannot pay these prices to keep us warm. We live miserable because of it. We are freezing but I'm too scared to put it on when my bills already much more than I'm paying. I have about 1 month credit left and them I'm in a mess. The fear of owing money on my G&E is really bothering me. I've never owed money. I've always been in huge amounts of credit!
My bill now is more than double what I was paying a year ago, and 3 times more than I was paying 2020 and previous, and that's with significantly less usage. It terrifies me. I am a one, low income household working in a school. Makes me feeling like I'm failing

This is why I cancelled my dd earlier this year and keep money aside in savings then pay the bill as it arrives. Better earning me interest than them!

Do the maths if 2 million customers have £500 credit.. and interest rates keep rising.

Off to set up an energy company.. who's in?

@Anono2022 everyone starts off in debt. Then over summer we pay the same and as don’t use as much as winter it starts to be in credit - like we are now. Then won’t be come jan /feb and will build it up again

you need some heating esp if cold

I understand about bills being higher then dd

contact your supplier

as a single household make sure you claim for all you can so uc - the £150 heating - contact your child’s school as rhink they can help /reconmend you for the hardship fund

plus the £66 must help

@Anono2022 read this. Being in debit is fine. Not everyone starts in debt. It all depends on what month your annual statement runs from.

Whenever I am more than a couple of hundred in credit I request the money back. What's the point of leaving so much money in an energy company's account? So many of them are going bust too.

£27 E and £15 G prepayment meters

Same. When Yorkshire Energy went bump it took me about 6 months to get my credit back from the company I was moved to (Scottish Power) robbing bastards. Never again!

I am over 500 in credit but they won't reduce monthly payments

Can't you adjust your own DD on their app?

Because hopefully I can avoid putting my DD up for longer. Fixed rate ends NYE, I'm expecting bills to go up a bit Nov and Dec then rocket Jan.

I could withdraw the £900 and put it aside then add it in each month on top of my DD when the bills soar, but for the interest I'll earn, it's more stress and work than it's worth. I'll review come March.

I don't get this. We're £900 in credit, Oct bill was £135, this month's poss £150and they want to reduce to DD to £115 as they estimate thsts what I'll use over the next 16 months. I can change my DD to anything down to £105

£256 in credit. My monthly bill is around £30 to £35. Usual DD is £53 but not paying anything currently as the government grant of £66 per month is going in.

@MrsDanversGlidesAgain

...what's that I hear?...

oh, it's the sound of MN grinding to a halt!!

🤣🤣🤣

if only there was a way for people not to have to read every thread, something like, I don't know....having to click on a thread for it to be open & posters having to write a thread title that makes the content obvious... wouldn't that be amazing?!?! ...

@FormerlySpeckledyHen

because I'm not psychic. I don't know how much I'll use over the winter. I like having my DD's regular amounts and I'd rather over pay now and not have to pay them an additional amount later 'to settle up'

nothing to do with an inability to budget.

£1000

Those who think they are massively in credit, do you know how much you’ve spent. You may well not be in credit at all.

i am with British Gas. They bill every six months. That means that my account will show I’m in credit for a big chunk of the year because my monthly payments are sitting there on the account but the account doesn’t show the cost of what I’ve used until the billing point when it all gets wiped out.

it’s a stupid system which could easily mean that people who think they’re ok, actually aren’t.

I now ask them for a bill every month. It means that I am in credit but not massively. I spent about £180 last month for example on electricity, my dd is £230. Im about £70 in credit but I’m up to date and know exactly how much I’m spending.

£200. I'm not letting it go higher or putting the DD up. I take monthly readings and if I owe extra I'm happy to pay the extra above my £250 DD if needed.

We left a little in but took a chunk out because regardless of what was in there Ovo kept wanting to up the DD anyway! There’s about £250 in there now plus the recent DD.

I was £800 in credit, I recently got them to repay me £400 which they were happy to do.

none - because we submit our readings monthly and pay quarterly what we have used.

but I appreciate that dd is a good thing for many to spread costs over the year. if you are, you should have a 'good'cushion' by now to carry you over so at least half your usage is paid for by summer savings.

To the OP they are only allowed to keep a month's worth of estimated bills so demand your money back from your energy supplier incase they go bust or are taken over by someone else. (Anyone taken over by Ovo who has had their bills screwed up can tell you more.)

I'm currently £250 in credit after demanding £500 back at the beginning of September. (I had to leave them a shitty review online as they ignored my telephone and email request.) In March I will be asking for any credit back regardless of whatever they put up my bills to. This is because my energy supplier takes no notice that I'm in credit when estimating my DD charges for the next 6 months.

I pay monthly for what I use, so technically none. However, I have 300 put aside for this by overpaying my octopus bill into my premium bonds account - hoping to win big and not need to worry about it .