£115.33 in Credit with Scottish Power. What would you do?

MissBehaving

We have just received our Estimated bill dated 22/1/07.
Each month we have a DD running for £75. It is on the fixed cost thingie!!!!!

Anyways, my question is this... once we have received our exact reading, if we are still in credit, should I contact them and ask them for a refund, or should I leave us in credit?

I just think that they are sitting with my money accumulating interest, when I could have it in my own account doing the same.

Any advise is appreciated!

Thanks guys...

Cardew

The whole idea of the DD scheme is to spread payments over a year; and at the end of the year to re-assess the payments.
The Utility companies give financial incentives for DD tariffs as it eases the administrative burden of payments. If you feel that you should get credit balances paid back, does it not follow that you should pay back any debit balance that build up? It is quite possible that by the time you get your April bill you will be in debit.

Anyway the lost interest on £100 or so for a few weeks is pennies.

[Deleted User]

I have surplus with sp too and it is a nice state to be in. The surplus arises because I asked sp to increase my dd last year. I asked sp yesterday to reduce my dd by £10 a month and that is now done. I won`t be claiming my excess funds because imo it is a very nice safety net.

I am sure that the people who have had `nasty shock` bills would be wishing they were in the same boat as the op and people like myself and like cardew says, why on earth quibble about a few pence

Merlin139

kittie wrote:

I am sure that the people who have had `nasty shock` bills would be wishing they were in the same boat as the op and people like myself and like cardew says, why on earth quibble about a few pence

I am with SP as well and each month after the DD is paid I always read the meters and submit a new reading on the website. I then know how far in CR or DR I am. If I am in DR I move some money into a Websaver account I keep for annual bills.

At the end of the year with them in May I will then raise or lower my DD.

I always read my meters each month and keep a running total of useage. This will then alert you if a massive spike appears.

seven-day-weekend

I am with Powergen for my house in the UK. I claimed £200 back off Powergen, but was still £100 in credit and did not reduce my dd. Last time I had a bill (early january) it was £24 in debit. I have left it as it was just before another payment was due to go in. I'll review it in May when I've been with them a year, but at the moment it looks OK (one would expect to have a slight debit in the winter).

I too supply a meter reading every month.

MissBehaving

Thanks guys for your replies. I will leave the credit with SP and perhaps reduce the DD slightly in summer.

These three monthly bills still confuddle me... I am used to receiving a monthly bill!