just received my 6 month energy statement

On EDF the Direct Debit discount is 6%, which they claim is a typical £62 'saving' a year (i.e. an estimated bill of £1033 a year)

If you overpaid by £1033 in that year you'd lose £36.15 in a decent ISA (3.5%), and it'd work out as costing you even less considering the amount wouldn't necessarily be out of your account for a whole year.

Seems fair enough to me.

Assuming the "estimation" are reasonably accurate, in my experience they are frequently double or even triple actual usage, not to mention I have heard of then increasing the payments with no notice...
 
I pay monthy DD and at some points through the month I give them readings and I get billed accordingly. Every 3 or 4 months I keep an eye on my account and change my payment accordingly at the time. The most i've been in cred was in October when i had £200 in there which was good as it would have paid for the winter without us changing our payments.

Then the daft buggers sent me a cheque!
 
Yeah British Gas did this to me, i used to pay DD for my gas and electric with them, i was £275 in credit on the electricity and they still put my DD up without even asking. When i bought my house i was with EON and i paid them after they read the meter every 3 months.

Over here, when we finally get a house, im going to go as self sufficient as possible, you get some really good tax breaks for investing in green tech.
 
money will be back in my account this time next week :)

i had a sales rep from npower do me a quote last week and he reckoned i could save about £65 over the year with them with their ''£200 bonus scheme'', i might look into it though it does seem like a slightly hollow sales scheme to me
 
pah you guys get energy for nothing

I'm paying 108€ for leccy and 130€ for gas only 3 of us in the house. (Top rated condensation boiler as well) of course energy (like water) is classed here as a luxury so 21% VAT :(
 
Don't ask for the money back, it is better to pay more, when the cold weather hits like it has your gas usage will go through the roof. The whole idea is to build it up over the hotter months and use the credit over the winter.

I was almost £200 in credit last two months has wiped that down to just £90 in credit. Hasn't helped been off work so heating 24/7.

Also never go by estimates, just tap in your actual readings every month.
 
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But he do that I'm a savings account earning at least some interest to combat inflation.

It's complicated and your talking pennys.

what's the interest on putting £20 a month for 8 months in a savings account, is that worth the hassle and the possibility of a shock bill depending how you manage it.
 
Don't ask for the money back, it is better to pay more, when the cold weather hits like it has your gas usage will go through the roof.

i understand your point but i was just way too much in credit and wanted it in my bank, not theirs. i will just keep an eye on my usage and give them another meter reading at the end of january to see how i'm fairing. bring on the wooly jumpers :D
 
Assuming the "estimation" are reasonably accurate, in my experience they are frequently double or even triple actual usage, not to mention I have heard of then increasing the payments with no notice...

That's worked out for doubling of the actual usage so you could get towards 3-4x the actual usage before you start actually losing out.

The random fluctuations of the direct debit I couldn't comment on, they've always sent us a letter with decent notice of any changes.
 
That's worked out for doubling of the actual usage so you could get towards 3-4x the actual usage before you start actually losing out.

The random fluctuations of the direct debit I couldn't comment on, they've always sent us a letter with decent notice of any changes.

I see your point, but I have a problem with the whole model, I have issues with speculation, I expect an honest flat rate from my utility company. Cash is cash. If I want to gamble there are plenty of websites that cater for that.
 
I see your point, but I have a problem with the whole model, I have issues with speculation, I expect an honest flat rate from my utility company. Cash is cash. If I want to gamble there are plenty of websites that cater for that.

Yeah, I'm in the middle; I'd rather pay the exact bill when it comes in, but as a student, a saving is a saving :p
 
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