I feel like I have won the lottery or am I getting my hopes up?

[Gymnoob]

Logged on to check the damage from winter. Will the actuals be better or worse than the estimates I have ignored for many months in fear.

It’s saying 5k credit!!!!

Omg I could REALLY do with that right now!!!

But then the last bill says statement end debit. So how’s that possible?

What on earth is going on here.

Any geniuses understand how this works. I have a couple of days until this quarters bill comes through and I am now very excited about my potential windfall. Or is this account balance box sometimes wrong? Because how could it possible be correct. That’s a years worth of payments?!

Thank you 🙏

[TitusMoan]

The second box directly contradicts the first, doesn’t it… Unless you’ve been paying a grand a month for ages, you won’t be £5k in credit if you are using £800 a quarter.

[Gymnoob]

@TitusMoan

The second box directly contradicts the first, doesn’t it… Unless you’ve been paying a grand a month for ages, you won’t be £5k in credit if you are using £800 a quarter.

Edited

Exactly! It’s very confusing. I also have one quarters statements which says credit credit credit on everything as they mucked up the previous quarter. So all refunds, plus my normal payments. And that also says debit at that end 🤷‍♀️

My account is pure mayhem. But I’m paying a tonne.

[TrentCrimmIsHot]

Your latest statement ended in a debit figure, so over the course of that period you spent more than you paid in, but overall you are still £5k in credit. It would have been higher than that before this most recent statement.

[Gymnoob]

@TrentCrimmIsHot

Your latest statement ended in a debit figure, so over the course of that period you spent more than you paid in, but overall you are still £5k in credit. It would have been higher than that before this most recent statement.

So I do have 5k sitting here 😱😱🥳🥳🥳🥳🥳

OMG I really bloody hope so.

[fedupandstuck]

I'd want to go over the workings for each billing period over at least the last year. How much was your balance at the end of the last bill? You must have already been in credit to at least £2,000 surely?

You should be able to see from the various debits and credits how they've come to that figure of £5,000 plus.

[Notreat]

@TrentCrimmIsHot

Your latest statement ended in a debit figure, so over the course of that period you spent more than you paid in, but overall you are still £5k in credit. It would have been higher than that before this most recent statement.

This is what I understand by it.

Last quarter you used 854.34 but you only paid 414 so for that quarter you underpaid by 339
But overall your account is in credit by 5k

[Gymnoob]

@fedupandstuck

I'd want to go over the workings for each billing period over at least the last year. How much was your balance at the end of the last bill? You must have already been in credit to at least £2,000 surely?

You should be able to see from the various debits and credits how they've come to that figure of £5,000 plus.

I have tried and it’s not making sense. As I said q before last everything said credit, standing charge, energy, my payments and it still said debit at the end.

Im always in the assumption I owe them money so this has come as a surprise. But then we have massively reduced our usage. Our debits when set up were essentially running two houses as we lived in half the house and renoed the other half so were running two gas systems. Now we are on one efficient one so I was expecting things to have evened out,

[Squarecircletriangle]

It could be a mistake. My energy company credited my account with over a grand. I knew this was an error and phoned them up and they corrected it.

[namechange1986]

Have you sent in a meter reading? If this is based on an estimate things could completely change.

[fedupandstuck]

The bill for the last quarter might have said debit if your payment that quarter was not enough to cover your usage, but your overall balance could still have been in credit so some of your balance was used to make up the shortfall. But still leaving you in credit overall.

Have you been making large payments for several quarters, and have they refunded you large amounts recently too?

[qotsa]

@namechange1986

Have you sent in a meter reading? If this is based on an estimate things could completely change.

Was just going to say this. Make sure you send in actual readings as well to get an up to date, accurate final bill.

[LemonySnickets]

We had this. The credit was over £5500. The monthly payment exceeded what we were using. We took meter readings and they confirmed the amount. Asked for it (£5000, left some as a buffer) to be transferred back to us.

They said it would be back within 2 weeks but 3 weeks later there was no sign. Had to phone again and we did eventually get it back. Been keeping a closer eye on it now and have just had to reduce our direct debit again as the amount is creeping up again.

[Fannyfiggs]

Are you paying £414 per month?

Is your last statement of £854 for a month or quarterly?

[AnotherFamilyNightmare]

I am assuming this is gas or electricity? You don’t actually say.

Nobody can say if it is correct without knowing the meter readings.

It is possibly correct if your “useage” on previous bills was estimated for a very long time so you have built up a huge credit balance.

When was your meter last read? I believe utility companies have to read meters every 2 years. If your meter hasn’t had an accurate reading for 2 years and your DD is for twice your actual usage, you could have built up a £5k credit in that time.

Also, if the company hasn’t taken meter readings or chased you for them for 12 months, backbilling rules mean they can’t charge you for anything used over a year ago. I once got an unexpected refund that way.

[Gymnoob]

@Fannyfiggs

Are you paying £414 per month?

Is your last statement of £854 for a month or quarterly?

Yes just for gas. And the quarter is 850 or so. I just checked actual and it’s quite close to estimate. About £100 off.

Also, if the company hasn’t taken meter readings or chased you for them for 12 months, backbilling rules mean they can’t charge you for anything used over a year ago. I once got an unexpected refund that way.

I don’t know potentially. Life’s moving very fast with a toddler. I usually ignore it and have a panic moment once winter is over to check and see what the damage actually was and where we are.

[AnotherFamilyNightmare]

If you had 2 “gas systems” during renovations, did you originally have 2 gas meters at the property on the same account? We have separate water meters for inside and outside as there is no sewerage charge for the outside tap. The DD covers both but it makes the bill quite complicated to understand… Are they splitting the DD payment so one meter is in credit, the other in debit?

[Gymnoob]

@AnotherFamilyNightmare

If you had 2 “gas systems” during renovations, did you originally have 2 gas meters at the property on the same account? We have separate water meters for inside and outside as there is no sewerage charge for the outside tap. The DD covers both but it makes the bill quite complicated to understand… Are they splitting the DD payment so one meter is in credit, the other in debit?

No same meter. But it just meant we were using an incredible amount of gas at one stage. And the dd is based on that use

[Fannyfiggs]

If you've been paying £400 each month for 12 months and your quarterly bill is £850ish then you've been paying £350/400 a month more than you need to so yes, you probably are £5k in credit.

However, the confusing factor is the last statement being in debit.

Call your energy company and put us all out of our misery 😂

[Gymnoob]

@Fannyfiggs

If you've been paying £400 each month for 12 months and your quarterly bill is £850ish then you've been paying £350/400 a month more than you need to so yes, you probably are £5k in credit.

However, the confusing factor is the last statement being in debit.

Call your energy company and put us all out of our misery 😂

But surely it’s not. That’s only £125 per month over? Or 400 extra per quarter so 1200 a year or so?

I suppose if you add that to the quarter where apparently it was all credit so £800 saved plus the amount I spent that quarter £1200. That’s 2k.

So that’s getting nearer. Plus a surplus from summer. Maybe it is true 😱😱😱😱

Honestly I can’t believe it. If this is true this has come at just the right time!!!

[fedupandstuck]

I think that screenshot is badly worded, so the bill is in debit for that quarter, but the balance can be paid from the large credit balance that already exists, leaving it still £5,000 in credit.

But, I would want to download each quarterly bill for the last year at least, and work through it to make sure there were no errors.

Plus, @Gymnoob it isn't a windfall really, it's your money that you should have already had the benefit (and interest!) of.

[CuriousGeorge80]

I think it depends completely on whether you have been giving meter readings or are on a smart meter? If neither of these then the whole thing is guess work anyway, and you won’t have any meaningful answer until you provide a meter reading. (Sorry if I missed it, I read the thread quite quickly.)

[Gymnoob]

@fedupandstuck

I think that screenshot is badly worded, so the bill is in debit for that quarter, but the balance can be paid from the large credit balance that already exists, leaving it still £5,000 in credit.

But, I would want to download each quarterly bill for the last year at least, and work through it to make sure there were no errors.

Plus, @Gymnoob it isn't a windfall really, it's your money that you should have already had the benefit (and interest!) of.

This is true. It is my money. But I didn’t know it existed 🤣 so to me it is a windfall. I still can’t quite believe it!

I will have to download everything and try again. Those boxes are representative of how confusing the whole thing is. It’s all very messyilly arranged.

[fedupandstuck]

If you need to give meter readings (ie no smart meter) then I would set a reminder monthly to give a reading so that bills are never estimates. It gets more confusing if you have constant adjustments for badly estimated usage. Much easier to have actual readings throughout.

[GoingOnHol]

@fedupandstuck

If you need to give meter readings (ie no smart meter) then I would set a reminder monthly to give a reading so that bills are never estimates. It gets more confusing if you have constant adjustments for badly estimated usage. Much easier to have actual readings throughout.

Yes definitely
I used to submit meter readings on the 1 of the month, then when we moved supplier they did their estimates on 22, so I always had adjustments on my statement for to the actual and estimate, now I submit on 22 and it is much easier to follow
Even with a toddler .ca. You find 5 mins a month to read them?

[Fannyfiggs]

@Gymnoob

But surely it’s not. That’s only £125 per month over? Or 400 extra per quarter so 1200 a year or so?

I suppose if you add that to the quarter where apparently it was all credit so £800 saved plus the amount I spent that quarter £1200. That’s 2k.

So that’s getting nearer. Plus a surplus from summer. Maybe it is true 😱😱😱😱

Honestly I can’t believe it. If this is true this has come at just the right time!!!

Oh yeah, I clearly can't count 😂 just as well I'm not an accountant...