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Cost of living

Stretching your budget? Share tips and advice to discuss budgeting and energy saving here. For the latest deals and discounts, sign up for Mumsnet Moneysaver emails.

How much credit do you have in your energy account after summer?

114 replies

Lalaloulous · 12/09/2023 21:53

Just checked my energy suppliers app and currently have about £500 surplus in there. We pay about £350 a month so I feel it should be more but maybe we are using more than I thought. I need to go back and look through the numbers but the energy company haven't said anything about being too low. Got me wondering how much are other people in credit at the end of the summer?

OP posts:
Greenfishy · 13/09/2023 07:47

£388 with a DD of £130, and we took a couple of hundred out a few months ago. We think that’ll be ok through winter, we’re pretty energy conscious, but we can up it if we need to.

devildeepbluesea · 13/09/2023 07:49

I had £720 and asked for £420 back. I went into last summer in debit so am confident that £300 credit is plenty.

Hubblebubble · 13/09/2023 07:49

A measly £200. But my bill has been slowly reduced each time they've reassessed it.

DreamItDoIt · 13/09/2023 10:13

-£600
Will up my DD soon and make a one iff payment to get me all square for winter.

Ulotreto · 13/09/2023 10:24

I pay £100 a month, but have just come off a 2 year fixed deal so I was fortunately not affected by the energy crisis. I have £692 in credit and have just moved onto a variable rate. EON Next still wanted to increase my DD to £160 a month but I told them absolutely not. I don’t think they pay interest to me on the credit I have on my account. Is that just some providers that do that?

ShinyBandana · 13/09/2023 10:30

I was over £1000 but I took £250 last month. We pay £330/month and our winter actual monthly costs last year were £600-700 so I want to go into Oct & Nov with wriggle room ahead of Dec/Jan/Feb.
I prefer paying the same amount each month as it makes my monthly budget easier.

1984Winston · 13/09/2023 10:32

About £400 in credit, currently pay £100 a month so asked for £150 back as we are struggling with our food bills right now

AlltheFs · 13/09/2023 10:33

Minus £150

We don’t see much change summer and winter though-we only have electricity and our heating is oil which we buy as we need.

Our monthly usage is £100-£160 and we are paying £167 so it’s about right.

Ariela · 13/09/2023 11:00

Almost none as I calculated it better to reduce the credit balance (usually £300) - we use pretty much the same all year due to effects of solar and not using oil for cooking/hot water all summer. Doesn't stop the energy company wanting more though, they calculate that we'll use more in winter based on what we used over the summer.

You need to work out your payment on YOUR ACTUAL use last year at this year's prices (lower unit price, higher standing charge price) to get an idea where to pitch your direct debit request.

greylad · 13/09/2023 13:40

It’s astonishing that so many on this thread appeared to have moved into their homes around March-time!

Lalaloulous · 13/09/2023 18:35

greylad · 13/09/2023 13:40

It’s astonishing that so many on this thread appeared to have moved into their homes around March-time!

I did move in March actually!

Thanks everyone for the comments, really interesting. Going to delve into the numbers tomorrow and see what I can change (if anything).
Has anyone switched provider and got a better deal or fixed their tariff recently? I've been holding off but don't know if now is a good time?

OP posts:
alwaysmovingforwards · 13/09/2023 20:57

Ohthatsabitshit · 12/09/2023 21:57

Zero I don’t overpay bills, I have a savings account.

Absolutely this

Imamumgetmeoutofhere · 14/09/2023 11:43

About £750 which is three months of direct debit. Should cover 2 months of winter bills if we have a particularly cold snap like last year

PuzzledObserver · 15/09/2023 15:41

I have £550 at the moment.

We have solar panels and battery, and being on the right tariff over the summer meant that export payments basically cancelled out the cost of our electric, and of course gas usage very low. But I also get credits from my share of a wind turbine, so credit has been increasing over the summer despite my DD being only £1/month.

I intend to leave it there over the winter and top up by debit card if I need to. Then once the new payment rate from the wind turbine is announced, probably in January, I’ll assess where my DD needs to be from then on. The rate won’t be anywhere near where it is now.

ItWasntMyFault · 15/09/2023 16:08

£700 so my DD for the last two months has been £35.

JanesBlond · 15/09/2023 16:10

£16. I’m not a liquidity facility for the energy company. My money is in my bank account where it belongs, earning interest for me.

SophiaElise · 15/09/2023 16:11

£392 in credit presently. Direct debit is £125/month (old fixed deal that's coming to an end this month)

dutysuite · 15/09/2023 16:17

None. I prefer the money in my bank not theirs.

Desecratedcoconut · 15/09/2023 17:25

£550 at the moment. I know I need about 650/700 credit to cover the winter period.

HideTheCroissants · 15/09/2023 19:11

Our dual fuel payments are £150 per month. They’ve just refunded us £260 which leaves us with £500 credit. I’m happy with that.

teaandtoastwithmarmite · 15/09/2023 19:14

About £1500! It's ridiculous. They've been taking £330 a month off us for about 3 years

elderflowerandpomelo · 15/09/2023 19:14

£600 and I’ve just massively reduced our DD as I think that’s mad.

UpUpUpU · 15/09/2023 19:38

Thank you for this thread! Just had a look at mine as was paying just under £150 a month. I have £450 in credit and the option to switch tariff. I’ve just done it and it’s knocked my payment down to £79 a month! That feels like a massive win!

Prettypaisleyslippers · 15/09/2023 20:08

£550 ish

husbandcallsmepickle · 15/09/2023 20:23

Just checked and we're £880+ in credit paying £155 a month.