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Scottish Power To Pay Direct Debit Interest

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bristolleedsfan
bristolleedsfan Posts: 12,134 Forumite
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One in the eye for the posters who have been adamant that Power Companies are entitled to interest free credit balances in return for DD discounts. :rolleyes2

http://www.thisismoney.co.uk/consumer/bills/article.html?in_article_id=481252&in_page_id=510
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  • 1carminestocky
    1carminestocky Posts: 5,256 Forumite
    Cashback Cashier
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    LOL. I'm sure there's something behind this we haven't been told yet. Energy companies just don't do this sort of thing unless they are forced/co-erced. 3% is pretty good these days, maybe I should ask them to up my DD to a couple of grand a month....strokes chin.
    Call me Carmine....

    HAVE YOU SEEN QUENTIN'S CASHBACK CARD??
  • Magentasue
    Magentasue Posts: 4,229 Forumite
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    It's a good thing the energy companies are so keen to give their profits back to us. Otherwise they'd be looking for a way to claw this back.
  • bristolleedsfan
    bristolleedsfan Posts: 12,134 Forumite
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    ..strokes chin.


    :think: .....
  • lilmissmup
    lilmissmup Posts: 6,884 Forumite
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    Does this mean my DD will go down as will be in credit next bill?
    Now a SAHM trying to earn some spare pennies each month
  • Magentasue
    Magentasue Posts: 4,229 Forumite
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    What will this board be like this time next year, if the energy companies only let people build up balances of £133 over the summer? Just before, over or after Christmas, we'll all get hit with that first winter statement and DDs will have to soar to catch up.

    I suppose I'm one of those people referred to in post 1. Not that I feel the energy companies are entitled to earn interest from DD balances without compensating customers. But I can see it makes business sense to limit the number of customers building debts over the winter and, personally, I feel the DD discount makes it worthwhile to build credit that pays the winter bills.
  • SwanJon
    SwanJon Posts: 2,333 Forumite
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    Definately a step forward, so long as it isn't matched by a drop in DD discounts, or worse, interest charged on any balances over £100.
    Me, cynical?
  • Shonk_2
    Shonk_2 Posts: 29 Forumite
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    Scottish power are idiots im £400 in credit
    and my readings are upto date
    but they refuse to lower my direct debit
  • Emma_Salmon
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    I've just asked about this and they say they give you a 10% discount for paying upfront (for me its app £600 for both electric and gas) but I asked if I used over 10% less energy would I get a rebait for the balance and they said no that it would just roll over so would you ever benefit from this 3%?
    First win Friday 13th! Knew it was a lucky day for me :p
    2009 Wins: Special K, Super Glue & Little Dish Ruck Sack
  • bristolleedsfan
    bristolleedsfan Posts: 12,134 Forumite
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    I've just asked about this and they say they give you a 10% discount for paying upfront (for me its app £600 for both electric and gas) but I asked if I used over 10% less energy would I get a rebait for the balance and they said no that it would just roll over so would you ever benefit from this 3%?


    There appears to be two or possibly even three seperate initatives. ;)

    "In a second initiative, aimed at encouraging customers to pay on time, ScottishPower will offer a five per cent discount to customers who settle their estimated annual bill in advance. "
  • Plushchris
    Plushchris Posts: 3,592 Forumite
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    lilmissmup wrote: »
    Does this mean my DD will go down as will be in credit next bill?

    I wouldnt hold my breath if I were you!
    Missing Tesco R&R since Feb '07 :A & now a "Tesco veteran" apparently! ;)
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