EDF are holding my cash

mongmoney

I am angry at EDF for holding my cash. They are holding over £100 in my gas account. When I rang this am I was told that the account is going to be reviewed in June and 'the system' would generate a new payment schedule. I cannot alter my DD amount until this review is complete.
How can the energy companies get away with this? I want to pay for what I use, only! I know that I am losing interst on this cash and the company is gaining.
OMG- my phone just went- EDF energy with two options:-
reduce DD to below usage and eat credit over time OR to refund credit and reduce DD to usage.
I am glad I strongly made my point to the advisor. Getting a refund with 5 working days, whoop whoop.
I would advise anyone with a good level of credit, say between £50 and £100, to do what I have. We shouldn't let the companies keep OUR cash! Pay for what we use and no more.
HTH
Mongy

4$£&*(£$&*(!

Credit can be relative though. Monthly fixed DD customers should have bills near enough to zero around May/June time, they have then cleared the winter debits and will start to build up credit for next autumn/winter. I keep a close eye on my bills and debits, I have been known to call EDF before to change my debit amount by just £2 per month so I am almost bang on the nose. This builds just enough credit for them to take off me in the winter, and clears my debt almost to the pound around this time of year.

I suppose there are two ways of looking at this. Computers don't get things right all the time, they only work to tolerances built in. If EDF set a reasonable general tolerance that will not be appropriate for every single customer, so if you are that bothered about not building up credit then do what I do and regularly submit meter reads, adjust your direct debit yourself to account for it. The other way to look at this is during the winter it is easily possible for customers to go £100 in debit on gas, yet EDF don't scream about us paying all of it at once, they let us pay bit by bit. That's how the credit metering system works.

I think this is a case of you cannot have your cake and eat it.

moonrakerz

mongmoney wrote: »

I would advise anyone with a good level of credit, say between £50 and £100, to do what I have. We shouldn't let the companies keep OUR cash! Pay for what we use and no more.
HTH
Mongy

So you would have no objection to EDF phoning you up in February and demanding that you pay them the £250 that you are in debt to them at that time ........ ?

Cardew

mongmoney wrote: »

Pay for what we use and no more.
HTH
Mongy

You can do exactly that - ask for quarterly bills.

moonrakerz

Cardew wrote: »

You can do exactly that - ask for quarterly bills.

AND lose your DD discount.............:D

grizzle_veteran

moonrakerz wrote: »

AND lose your DD discount.............:D

^ this. and lose your DD discount. If you want the DD discount a company offers you then you have to accept that particular company's dd policy which includes review dates, balance handling, etc.