Understanding Energy bills etc

kinger8938 · 16 Sep 2015 at 20:19

Hi!

We are with british gas and pay a fixed amount of £96 per month. I update my readings when they ask, and have just noticed our account is £550 in credit so obviously we are paying more than we need to be.

Thats fine as they review it in october and i will get it back or can even just ask for it back now. But im wondering how can it be so far out? Am i doing something wrong reading wise? God knows! Had a quick look at the last bill and it doesnt seem like we used enough lol

Not complaining of course, just wondeing if this is normal. Its been our first year in this home, a new build. So i think the £96 a month was just an estimate based on nothing really. Been here 12 months in october.

Wouldnt want to get all the money refunded then one day them say we messed up and require a payment lol

the wopster · 16 Sep 2015 at 20:26

I overpay every month and use it to save up for Christmas( last year I got just under £700 back)what I use ranges from £55 in the summer to £80-100 in the winter(depending how cold it is) but I pay £150 per month, I'm with OVO at the minute also they give me interest on any credit balance

kinger8938 · 16 Sep 2015 at 20:29

Ok maybe im not doing it wrong then, its just me and the gf, work all day, just use tv and a few bits in the evenings and obviously no heating at the mo, so cant be costing much at all. No tumble dryers or dishwashers etc. just seemed really low to me lol

I guess the best thing to do is take the money out and put it in a saving thing or something but its not worth it now

(Just seen you get interest, thats cool!)

MrMoonX · 16 Sep 2015 at 20:31

I give first Utility readings every month and this ensures I'm hardly ever in debit or credit

the wopster · 16 Sep 2015 at 20:35

kinger8938 said:
Ok maybe im not doing it wrong then, its just me and the gf, work all day, just use tv and a few bits in the evenings and obviously no heating at the mo, so cant be costing much at all. No tumble dryers or dishwashers etc. just seemed really low to me lol

I guess the best thing to do is take the money out and put it in a saving thing or something but its not worth it now

(Just seen you get interest, thats cool!)

I would recommend OVO to anyone, no wait times when calling up, English call centre, and cheap, also the interest reward is great, a lot better than the big 6 give you.

Andr3w · 16 Sep 2015 at 20:37

I've recently signed up with OVO, just waiting for them to take over my gas and electricy

kinger8938 · 16 Sep 2015 at 20:57

MrMoonX said:
I give first Utility readings every month and this ensures I'm hardly ever in debit or credit

Would part of my issue be that im on a fixed tariff, so i pay the same amount no matter what i use so i end up in credit?

wez130 · 16 Sep 2015 at 21:42

woppy101 said:
I would recommend OVO to anyone, no wait times when calling up, English call centre, and cheap, also the interest reward is great, a lot better than the big 6 give you.

I joined OVO in February especially to overpay and earn 3% interest, i'm currently about £200 in credit and will continue to save as i won't be using any gas or electric in December / January.

gradyhawks · 16 Sep 2015 at 21:50

First I've heard of OVO here actually, looks like I will give them a go in my next place.

I take it, even if I rent, I can switch? Never even thought anything of who I give the gas/electric money to.

Paying a bit more and getting a nice 3% seems great, do they send the money back whenever requested?

darael · 16 Sep 2015 at 21:52

Can you post your earliest meter readings along with your current readings. Date both readings and state if your meter is either metric (m3) or imperial (ft3). Using my own spreadsheet, I can try calculating how much your direct debit should be from the data you provide.

If you can post your prices, that's even better - ie: price per kWh, standing charges and any annual discounts if you are an online customer.

the wopster · 16 Sep 2015 at 21:59

wez130 said:
i won't be using any gas or electric in December / January.

You hope lol

the wopster · 16 Sep 2015 at 22:00

gradyhawks said:
First I've heard of OVO here actually, looks like I will give them a go in my next place.

I take it, even if I rent, I can switch? Never even thought anything of who I give the gas/electric money to.

Paying a bit more and getting a nice 3% seems great, do they send the money back whenever requested?

Yeah it takes about 3days

gradyhawks · 16 Sep 2015 at 22:06

huh, well thats me switching!

Rikk82 · 16 Sep 2015 at 22:26

I give meter readings every month, and pay Quarterly Variable Direct Debit. I'm never in credit with the energy company, and only pay for the energy I use - in arrears. I still get the full Direct Debit discount as well.

It means my bills in the summer are low (no heating on), but I make sure I hold some back in savings accounts (getting 4% with club Lloyds) to use over winter.

krooton · 16 Sep 2015 at 22:28

Another vote for OVO, been with them for 2 years, can't complain!

wez130 · 16 Sep 2015 at 22:34

woppy101 said:
You hope lol

I'll have a job, i'll be on the other side of the world

MrMoonX · 16 Sep 2015 at 22:37

kinger8938 said:
Would part of my issue be that im on a fixed tariff, so i pay the same amount no matter what i use so i end up in credit?

I pay a fixed amount each month but it can change depending on usage, monthly readings give a very accurate picture over the year with which to calculate the direct debit

grudas · 16 Sep 2015 at 22:38

mine was so off that over the last year we got into £930 debt.. :| going to have to dump a massive amount this month, fun and games.

MatsyLR · 16 Sep 2015 at 23:24

Yes perfectly normal for your circumstances.
I work for npower atm.
Either reduce your monthly dd to around £60 and see how it goes or switch to quarterly variable direct debit and pay for exactly what you use.

el_dazza · 17 Sep 2015 at 06:50

OVO are a bloody nightmare!

From another supplier's point of view anyway