Should i ask for my credit back?

macman

Er, because prices have gone up? What's your annual kWh consumption, and what rate are you paying? Your DD should be your annual total for the next 12m divided by 12.
Perhaps your annual consumption has risen for some reason since last winter?

davidgmmafan

If the payment was set wrongly you could end up massively in credit or debit if it wasn't reviewed until the 12 month mark. For some people this might not be a problem, but many people could not manage to pay off a few hundred pounds of debit in one lump sum.

I don't honestly know if companies make money from having customers credit. They probably do, but the discount (s) given for direct debit are more to do with the fact that its cheaper for them and cuts down on unpaid bills etc. I don't know what people think thier funds would be earning in the bank but it would be substantially less than most companies give in discount for paying by direct debit.

I'm a little sceptical of schemes giving interest some companies offer, it sounds good but in most cases I think it would work out as less than other companies DD discounts. If they give interest and a DD discount then its a fine incentive

taplady

macman wrote: »

Er, because prices have gone up? What's your annual kWh consumption, and what rate are you paying? Your DD should be your annual total for the next 12m divided by 12.
Perhaps your annual consumption has risen for some reason since last winter?

I would think it must be because of price increases as you say. Our usage hasn't gone up. I'll have to have a look at the bills to find our annual usage and rate.

macman

So if you haven't calculated your annual usage, how do you know that your usage hasn't increased?

midgetessa

My advice with Scottish Power for complete relaxation is to pay by Standing Order, not DD. You lose out on a small discount but you can decide exactly how much you want to pay each month and you can just forget about it without worrying about the dd rate jumping about to suit them.

Works for me.