Scottish Power annual review

Fairzo

I am on the SP Fixed Rate 2011 and just coming up to the annual review. I think I will be at least £300 in credit. How easy is it to extract the refund from SP and how long might it take?

Thanks for any comments.

Froglet

I am on the same plan.and thank goodness i have been.My gas and electric has been very reasonable.i was in credit,not as much as you! they just reduced my monthly payments.I always found them very helpful on the phone,why not ring and see what they can do for you?

Blue_Diamond_2

You can get a credit, but you may have to go through several people to get it. They are loathe to refund but yours is a big amount so you should find it easier!

[Deleted User]

Hi,

from SP:

Credit balance refund

If I have too much credit, will you refund it to me?
Yes, if at your annual review actual meter readings show you have more than 3 months worth of payments, we will automatically refund this amount. If you have less than 3 months worth of payments, we will reduce your monthly payments for the coming year.
If the amount you pay needs to increase or decrease, we’ll let you know before it happens.
And, for every full £33 you are in credit above £100 we’ll give you back £1* as part of our new Direct Debit Bonus Scheme.
*You get £1 for every full multiple of £33 above the minimum credit level of £100. So you’d get £1 if the credit balance was £133, £2 if it was £166 and so on, up to a maximum payout of £12 at £496.

Fairzo

Unfortunately it's not 3 months worth of payments so the refund won't be automatic. I would rather have the refund than just have my monthly payments reduced.

[Deleted User]

Hi,

can only phone and ask.

Fairzo

True enough, just hoping to learn from any experiences before attempting to get back what is, after all, my money.

I have a payment on Monday and then I'll put the meter readings in midweek to get an accurate credit balance. Will post the results of my communications with SP.

My_Feet_Hurt

Hi,

We`re on the fixed rate 2011 too.

About 3 months ago we found we were about 250 pounds in credit. A simple phone call and we were told we would receive 2 cheques (for some type of security) to that amount. The cheques took about a week to arrive and funnily enough they were in the same envelope. Our monthly payments stayed the same.

We had no trouble when asking for a refund. In fact we have never had any problems with Scottish Power. Maybe we are just one of the lucky ones.

m

Fairzo

My_Feet_Hurt wrote: »

Hi,

We`re on the fixed rate 2011 too.

About 3 months ago we found we were about 250 pounds in credit. A simple phone call and we were told we would receive 2 cheques (for some type of security) to that amount. The cheques took about a week to arrive and funnily enough they were in the same envelope. Our monthly payments stayed the same.

We had no trouble when asking for a refund. In fact we have never had any problems with Scottish Power. Maybe we are just one of the lucky ones.

m

Thanks for the information.

mark.scoular

Quick google search brought me to this thread. Checked my online Scottish Power balance to find almost £600 in credit! 5 minute phonecall later, after giving them updated readings, they said they I would recieve a cheque for the full ammount within 14 days. :beer:

Cheers Guys!:D

Scottish_Power

Hi Fairzo

This is a good time to be in credit and you should have no problem getting your credit back. Returning the full credit now and reviewing your payments at this stage means that we should be able to set your monthly Direct Debit at an amount that will build credit on your account over the summer months which can then be used towards the higher winter consumption. This way your monthly payments should not change throughout the next 12 months.

Let me know if you need any further assistance.

Kind Regards

Colin @ ScottishPower