Gas and Electricity in credit

val_84

Hi,

I'm just after some advice. I've been in my house for just under a year and since I moved have been paying £100 a month dual gas and elec. Yesterday I got a letter advising I am now £430 in credit and my monthly payments have been reduced to £29. I was wondering if I'm entitled to request for this money back as I would rather use it to pay some of my credit card off

Thanks

penrhyn

First check that your bill is based on actual readings. Also its quite usual to build up a credit during the summer months so as to cover the increased energy use during the winter.
Having said the above, I know British Gas refunds credit balances, don't know about other suppliers.

val_84

Thanks Penrhyn. It is based on actual readings as I submit them myself. I've been in credit since December last year so know it's not due to summer. I will give Edf a call and see what they say

jalexa

val_84 wrote: »

Yesterday I got a letter advising I am now £430 in credit and my monthly payments have been reduced to £29. I was wondering if I'm entitled to request for this money back as I would rather use it to pay some of my credit card off

At your 'annual review' balances in excess of £150 should be automatically refunded.

So you starter question of Edf is whether this is a result of your 'annual review' and if so why you did not receive an "automatic refund". If not as a result of your 'annual review' ask for a refund and to have your direct debit set accurately for your projected annual consumption. At this time of year only a minimal credit balance should be required to achieve an annual balance.

The following regulation provides the technical answer to your direct question...

27.16 Where any Credit has accumulated under a Domestic Supply Contract and the relevant Domestic Customer requests that the licensee do so, the licensee must, save where it is fair and reasonable in all the circumstances for the licensee not to do so, refund, in a timely manner, any Credit which has accumulated under that Domestic Supply Contract to the relevant Domestic Customer. Where the licensee considers that it is fair and reasonable in all the circumstances for it not to refund any Credit which has accumulated under a Domestic Supply Contract in accordance with this provision, it must inform the relevant Domestic customer of its view and of the reasons for holding that view.

annie1975_2

If you want a refund ,then tell them you want a refund..
Also your payments should still be reduced,but obviously not down to £29....When you ring they will tell you what your monthly payments will be after having a refund.

McKneff

I'm surprised EDF didnt automatically send you a cheque for your credit balance.

If you can see how much your annual amount of fuel used, divide that by 12 and that should be around about what your new dd payment should be.

Terrylw1

McKneff wrote: »

I'm surprised EDF didnt automatically send you a cheque for your credit balance.

If you can see how much your annual amount of fuel used, divide that by 12 and that should be around about what your new dd payment should be.

Yes, EDF seem to be strangely slow in refunding this but incredibly quick to debit.

Seems a theme...;):D

Greendayfan

I had a similar experience with BG a couple of months back,they did credit it back quite quickly but I am beginning to wonder if I should pay by DD or just pop the money in my savings account and pay the old fashioned way every three months. These companies must make an absolute mint out of having all this credit from their customers. Only problem is they do tempt us by making it slightly cheaper for paying by DD.........