Gas Board Suggest I Amend my Direct Debit

Magentasue

jem16 wrote: »

The problem with that thinking is if you switch companies coming into winter. To work out your total yearly consumption and then divide by twelve would obviously see you starting off in debit.

When I switched in September, my DD was set higher than it needed to be and I've stayed in credit. I didn't have a problem with this as I got my credit balance refunded from previous supplier.

Kavanne

Just to clear up, magenta, I too could afford to stay in credit but I would rather have the money instantly accessible to me in my savings account.... don't want to have to spend a month claiming it back off the gas co if I need it!

SwanJon

shadeylady wrote: »

If you do not want to increase the DD then call them and tell them, they must do what you ask.DD's are controlled by US not them!

Not quite true - DDs are an agreement.

If either side disagrees they can cancel that agreement. If they calculate a higher DD than you feel comfortable with, and you are unable to persuade them, they do not have to accept what you are offering and can return you to a quarterly bill.
Similarly, if you do not agree with what they are suggesting you can cancel the DD and choose to pay quarterly.

Magentasue

Kavanne wrote: »

Just to clear up, magenta, I too could afford to stay in credit but I would rather have the money instantly accessible to me in my savings account.... don't want to have to spend a month claiming it back off the gas co if I need it!

Yes, but I wouldn't have claimed it back if I hadn't switched. I would have carried on paying my lower DD, stayed in credit until spring and started again. If you want the money instantly accessible, quarterly payment would allow you to do this.

Kavanne

I used to be on quarterly billing (til Nov) but I found it harder to budget that way.

Basically here I just want to make sure I am not the only one who owes the gas providers money! and as long as I catch up March-Nov I'll be fine.

Magentasue

I prefer paying monthly DD. I'm happy for the suppliers to earn interest from my credit balance in return for my DD discount. If I saved monthly, I'd want to save the same amount every month and I'd only be able to do this if I started this time of year.