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A couple of Electricity switching questions...

savetilibleed
savetilibleed Posts: 1,363 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
We have never switched electricity, and currently pay EDF by quarterly paper bill so pay what we use.

Scottish Power Online Fixed Price to July 2013 is best for us according to energyhelpline.com by DD and paperless billing.

When it comes to DD it strikes me it is always going to be wrong to some degree, though understanding it evens out the year's payment equally. How does a new supplier, if arranged through energyhelpline.com, where/how much to set the regular DD so there is neither under nor overpayment. Is the DD amount constantly reviewed according to meter readings taken by them or supplied by me?

Can the DD be set up in another name. i.e. electricity account my wife's name and DD my name and bank details?

Do any do a whole bill DD like BT do?

At the end of the fixed period does it revert to their standard variable rate?

Thank you.

Comments

  • Terrylw1
    Terrylw1 Posts: 7,038 Forumite
    edited 6 March 2012 at 12:44AM
    The new supplier gets an estimate of he last years consumption from your old supplier, or should do. This will help them determine it, if their policy is to base the starting DD on it. If not, it will be a default. Suggest telling them what you normally pay at this time of the year and as long as its reasonable, they should be happy with it.

    They review them to adjust for seasons so the more accurate the reads on your bills, the more accurate the DD, avoid estimates.

    Check the t&cs about the end of the fixed deal. You would normally go onto a standard price unless they choose to convert to a substitute, but they would have to notify you of that.
    :rotfl: It's better to live 1 year as a tiger than a lifetime as a worm...but then, whoever heard of a wormskin rug!!!:rotfl:
  • lithopsian
    lithopsian Posts: 108 Forumite
    Some, and probably all, of the major suppliers offer variable direct debits where you pay for exactly what you use each month or each quarter, if that's what you want. Assuming you provide accurate readings each month or quarter of course.
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