Problems getting overpayments back? Atlantic

ADAM001

I am currenly with Atlantic Energy (dual fuel) and have been paying £62 p/m elec and £42 p/m gas-i recently got my statements 8/11/06-07/02/07 and found that i was £116.78 cr on electric and £5.27cr for gas-i asked for this money back and was told that any payments taken after meter reading 22/01/07 actually dont count towards that statment and are to be carried forward-so in effect saying that my electric is only £54.78cr and my gas £35.73dr.If this was the case,why put them on that statement? I have e-mailed them and they will only credit me with £54.78 for electric.
Is this just a way of them keeping hold of my money? coz if so i am paying too much.i have sent another e-mail asking this but no reply as yet.
Surley i have a right to that money as it will be perpetualy "carried forward" until i switch!

Cardew

The whole purpose of the DD scheme is to pay 12 equal installments over the year. This means you will be in debt for part of the year and in credit other parts of the year.

Because this makes it easier for the company to admister accounts they give a discount for the DD scheme.

You cannot be on the DD scheme and demand back every credit balance throughout the year, any more than Atlantic can expect you to repay every debit balance throughout the year. Anyway the interest on the money is only pennies.

If you don't feel that is correct, or the right way for you, then come off the DD scheme, put the £62 and £42 in the bank each month and pay your bill in full each quarter. Then the company will not be 'keeping hold' of your money.

Mind you you will probably pay more for gas and electricity.

oldwiring

Cardew as is his wont has hit the nail on the head. I suggest that you wait until the annual review date and then pay any debt or reclaim any over patment, and start new year with fresh amounts.

ADAM001

So i take it that i will get an annual review of payments and theres a chance my monthly payment will fall? as this is the most expensive time of year and im still in credit.

Cardew

ADAM001 wrote:

So i take it that i will get an annual review of payments and theres a chance my monthly payment will fall? as this is the most expensive time of year and im still in credit.

Yes you will get an annual review. They will then have got a good idea of what consumption you will have in the following year and with their price for gas/electricity they will work out new predicted annual total and an amended monthly DD.

Small credit balances are not normally refunded but subtracted from their predicted annual total. In the same way debit balances are added to the predicted annual total.

By the way your next quarter(Feb/March/April) is still normally a 'heavy usage' quarter, so your credit balance will probably disappear when you get your next bill.

ADAM001

Ill wait and see then-just recieved a credit for £54.78 electric so ill leave it for the time being.