Solar energy - Feed-in Tariff payment delays - your experiences?

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  • orrery
    orrery Posts: 802 Forumite
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    KevinG wrote: »
    Cheques don't take a week to clear any more, they are cleared in your account the next working day after depositing.


    That may be true, but the cheque takes time to be printed, mailed to you and then for you to present to the bank (if you can find one, or can be bothered to go into town) and clear, so it still represents a week of delay that BG have your money.


    I suspect that paying by cheque, rather than making a direct payment by BACS (etc), is a cynical way of holding on to your cash for longer.
    4kWp, Panels: 16 Hyundai HIS250MG, Inverter: SMA Sunny Boy 4000TLLocation: Bedford, Roof: South East facing, 20 degree pitch20kWh Pylontech US5000 batteries, Lux AC inverter,Skoda Enyaq iV80, TADO Central Heating control
  • snilloct1957
    snilloct1957 Posts: 210 Forumite
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    edited 7 June 2019 at 9:31AM
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    My system is registered with BG and I've never had any problem. I get a reminder every three months and cheques are sent promptly after I've submitted my readings. Of course, it would be nice if HM Govt could get behind renewable energy and increase the FiT but that's an argument for another thread...
  • KevinG
    KevinG Posts: 1,866 Forumite
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    orrery wrote: »
    That may be true, but the cheque takes time to be printed, mailed to you and then for you to present to the bank (if you can find one, or can be bothered to go into town)
    Some banks now let you pay in cheques using your phone app. But I agree, it's an unacceptable method of payment these days.
    2kWp Solar PV - 10*200W Kioto, SMA Sunny Boy 2000HF, SSE facing, some shading in winter, 37° pitch, installed Jun-2011, inverter replaced Sep-2017 AND Feb-2022.
  • Former_E.ON_Company_Representative:_Malc
    Former_E.ON_Company_Representative:_Malc Posts: 6,558 Organisation Representative
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    legoman62 wrote: »
    FIT read to payment = 4 working days. Nice one E.ON:beer:


    That's good legoman62. Thanks for posting. :)

    Malc
    “Official Company Representative
    I am an official company representative of E.ON. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
  • sevenhills
    sevenhills Posts: 5,901 Forumite
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    orrery wrote: »
    I suspect that paying by cheque, rather than making a direct payment by BACS (etc), is a cynical way of holding on to your cash for longer.


    I receive around £300 per year from my solar panels, I dont think a delay of one month will cost me very much, at 2% if I am lucky.
  • orrery
    orrery Posts: 802 Forumite
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    edited 8 June 2019 at 8:33AM
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    sevenhills wrote: »
    I receive around £300 per year from my solar panels, I dont think a delay of one month will cost me very much, at 2% if I am lucky.


    That's what they assume you'll think.

    In the meantime they are gaining thousands of 'chunks' of interest at a much higher level on the overnight money markets.


    They also gain much more than that in that there will be some people who put their cheque behind the clock and then forget to cash them.
    4kWp, Panels: 16 Hyundai HIS250MG, Inverter: SMA Sunny Boy 4000TLLocation: Bedford, Roof: South East facing, 20 degree pitch20kWh Pylontech US5000 batteries, Lux AC inverter,Skoda Enyaq iV80, TADO Central Heating control
  • nobby1963
    nobby1963 Posts: 351 Forumite
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    Afternoon All from soggy Devon !

    Just to say EDF as prompt as ever .....Reading submitted Saturday 1st June and email notifying BACS remittance received on Tuesday 4th.

    £756 in bank Wednesday.
    Happy Days.

    Nobby.
    SMA 4000TL Inverter, 17 REC 235PE Panels, South facing, roof angle \ `ish, 3995 watt system.Installed Nov 2011.
  • snilloct1957
    snilloct1957 Posts: 210 Forumite
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    Sent off my reading to BG on 10th June, got my cheque Sat 15th, banked the same day, no problem.
  • legoman62
    legoman62 Posts: 4,555 Forumite
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    legoman62 wrote: »
    FIT read to payment = 4 working days. Nice one E.ON:beer:

    Same again for August payment:T
    16 Sanyo Hit 250s.4kWp SMA 3.8kWp inverter. SW roof. 28° pitch. Minimal shade. Nov 2011 install. Hybrid car. Ripple Kirk Hill. N.E Lincs Coast.
  • Former_E.ON_Company_Representative:_Malc
    Former_E.ON_Company_Representative:_Malc Posts: 6,558 Organisation Representative
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    legoman62 wrote: »
    Same again for August payment:T


    Great stuff legoman62. Thanks for posting. :)

    Malc
    “Official Company Representative
    I am an official company representative of E.ON. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"
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