Energy Prices (Strictly NO referrals!)

kinetic747 · 24 Sep 2022 at 09:14

adidan said:
We upped our DD a few months back to below what was suggested at the time.

We're now a bit in credit and our DD isn't changing in October. Yet, anyway.

Not sure how the estimates are ever calculated, we're fully smart metered and yet our use never seems to get up to their estimates.

Consider whole amount direct debit, that way you'll just pay for what you use.

adidan · 24 Sep 2022 at 09:19

kinetic747 said:
Consider whole amount direct debit, that way you'll just pay for what you use.

We work out our own rough yearly DD amount and stick to a twelfth of that, at times that means we're in debit but it equates out over the year and we'd rather have that money sat in our bank account than a company's.

Their estimate for a year never seems to match to reality though so I'm not sure what time period they use.

Troop · 24 Sep 2022 at 09:33

Well, here is a new one on me, this just came up on my Octopus web portal.

chrcoluk · 24 Sep 2022 at 09:36

On mine they just lowered the DD by £67, and didnt explain why on the dash, there is going to be confusion from ignorant customers.

Troop · 24 Sep 2022 at 09:46

chrcoluk said:
On mine they just lowered the DD by £67, and didnt explain why on the dash, there is going to be confusion from ignorant customers.

Confused me at first as I just started on GO Faster 1 year fix today.

I use well under £67 a month for electric every month including the winter months.

Looks like Free electric for the next 6 months with the government payment.

No notification of any kind, the info just showed up on the web portal.

kinetic747 · 24 Sep 2022 at 10:03

I got a £265 rebate from EDF followed by an immediate increase of £21 per month. I'm not sure why they issued the rebate to be honest, but I'm switching to whole amount DD when my current tariff expires at the end of October.

Richie · 24 Sep 2022 at 10:16

Eon Next say they will keep your DD amount the same on your "dashboard" but will take £66/month less from the bank than what the account shows i.e. £100 DD will show but only £34 will be taken.

Can't say I am confident it will happen on 1st Oct but who knows.

Trifid · 24 Sep 2022 at 11:08

I'd rather there was a option to keep the amount taken the same and the government funding added to the account balance. I've yet to change my DD amount since last summer as I'm still in credit but it won't last long.

chrcoluk · 24 Sep 2022 at 11:36

Troop said:
Confused me at first as I just started on GO Faster 1 year fix today.

I use well under £67 a month for electric every month including the winter months.

Looks like Free electric for the next 6 months with the government payment.

No notification of any kind, the info just showed up on the web portal.

Communication wise they have been poor in my opinion, its also the last 6 days now of the month and still no news on what they doing on fixed and trackers.

bigmike20vt · 24 Sep 2022 at 12:46

Richie said:
Eon Next say they will keep your DD amount the same on your "dashboard" but will take £66/month less from the bank than what the account shows i.e. £100 DD will show but only £34 will be taken.

Can't say I am confident it will happen on 1st Oct but who knows.

I just checked my octopus account. I am well in credit but my DD has gone down to £3.06p. I assume the grant has come off

hopefully my buffer covers the extra

I am on Go faster

MichaelAwkward · 24 Sep 2022 at 14:45

Richie said:
Eon Next say they will keep your DD amount the same on your "dashboard" but will take £66/month less from the bank than what the account shows i.e. £100 DD will show but only £34 will be taken.

Can't say I am confident it will happen on 1st Oct but who knows.

My online Eon next account now shows that my payment from 1st October will be £42.46 per month instead of £109.46. Did you speak to them on the phone?

Richie · 24 Sep 2022 at 14:53

MichaelAwkward said:
My online Eon next account now shows that my payment from 1st October will be £42.46 per month instead of £109.46. Did you speak to them on the phone?

https://www.eonnext.com/energy-bill-support-scheme.

Fixed Direct Debit customers will receive the money automatically as a deduction to their monthly Direct Debit.

States they will deduct automatically so it's in their hands. No point phoning and pestering for them to repeat what's on their website.... *He says with confidence waiting for it to screw up*

Richie · 24 Sep 2022 at 14:55

I just logged into my account online and the deduction has happened so they were true to their statement.

Kudos EonNext :cool:

benjii · 24 Sep 2022 at 14:55

Seems to be a fair bit less hassle if you just pay the full amount of your bill each month. With the £66/67 a month deduction, we'll actually be paying less than we are now.

Manbatius · 24 Sep 2022 at 15:10

With octopus, can confirm my direct debit has changed with the government £400. It's £317.82 now.

scarps · 24 Sep 2022 at 16:04

Troop said:
Confused me at first as I just started on GO Faster 1 year fix today.

I use well under £67 a month for electric every month including the winter months.

Looks like Free electric for the next 6 months with the government payment.

No notification of any kind, the info just showed up on the web portal.

It says in your email history, well mine did that they would be automatically reducing your October payment by £67 as part of the Energy Bill Support Scheme.
17th September I had the email.

darael · 24 Sep 2022 at 16:11

Manbatius said:
With octopus, can confirm my direct debit has changed with the government £400. It's £317.82 now.

That's odd, because I'd expect them to just reduce your direct debit by £67/pcm. I'd also expect them to forecast your costs for the next 12 months based on your previous usage, but it doesn't look like they've done for somebody I'm helping - they've merely reduced the existing direct debit by £67/pcm, without using the new prices.

For example, before the October rise, their direct debit is currently around £210/pcm. With the new prices, they would be paying around £270/pcm. But, with the £67 reduction for 6 months, they should only be paying £203/pcm for 6 months, before returning to £270/pcm for the time being.

I'd recommend doing some calculations to avoid the possible pitfall of not paying enough and you unexpectedly ending up owing them money later on.

~Mike~ · 24 Sep 2022 at 16:21

Sticking with my BG fix, works out around £28 (years usage) cheaper than the new October SVR rates.

What to spend all that extra cash on. :cry:

Troop · 24 Sep 2022 at 16:27

scarps said:
It says in your email history, well mine did that they would be automatically reducing your October payment by £67 as part of the Energy Bill Support Scheme.
17th September I had the email.

Just checked, nothing in my email history from them regarding this, but to be fair I was in the process of changing from GO to GO faster, that went live today.

Edit to add,

No idea if the cap covers the GO range of tariffs, I hope so, but nothing has been posted up on this yet.
Most are banking on the higher day rate on these tariffs being reduced to the 34p cap

Manbatius · 24 Sep 2022 at 16:29

darael said:
That's odd, because I'd expect them to just reduce your direct debit by £67/pcm. I'd also expect them to forecast your costs for the next 12 months based on your previous usage, but it doesn't look like they've done for somebody I'm helping - they've merely reduced the existing direct debit by £67/pcm, without using the new prices.

For example, before the October rise, their direct debit is currently around £210/pcm. With the new prices, they would be paying around £270/pcm. But, with the £67 reduction for 6 months, they should only be paying £203/pcm for 6 months, before returning to £270/pcm for the time being.

I'd recommend doing some calculations to avoid the possible pitfall of not paying enough and you unexpectedly ending up owing them money later on.

Yeah. End of your paragraph 1 is what they have done with me also. They aren't using the new prices for some reason . More what it would have been of government didn't help out.

I've done the calucaltions to get your middle paragraph already. So I know what I should be paying. I haven't factored in that after Mondays payment I'll be £900 in credit though ! Just noticed that while travelling.

Our usage is high. 16000 gas 4000 electricity per year. Working on the electricity. But with being a 1930s home. Other than the project I have ongoing for insulating the garage (under my son's room). Can't see the gas use changing too much. (Saying that the average use period the Mrs was on maternity leave....)