Credit

avocetgirl

How much credit do you have on your elec /gas accounts this time of year? We are in credit by £230 with EDF and they have suggested we leave it but I've asked for it back! How much do people normally leave this time of year?

Joyful

I would say it depends on your Winter usage and your monthly payments as to how much credit to expect at this time of year. If you are a high user this may get swallowed up in a couple of Winter months. Normally you should break even after 12 months so check your bills to see where you stand and also see when your plan reassesses.

jalexa

avocetgirl wrote: »

How much credit do you have on your elec /gas accounts this time of year? We are in credit by £230 with EDF and they have suggested we leave it but I've asked for it back!

There is not a single answer to that question. It depends on your projected annual costs, your current monthly payment, the recency of your last meter reading and bill and your annual review date. Do you have a recent 'annual statement'? Given answers to all these questions a "reasonable" balance and monthly payment can be worked out.

Terrylw1

Standard Licence Condition (SLC) 27.16 states they should refund any credit you request unless they find a reason not to in which case they have to explain this to you.

As long as your future bills are accounted for in the current DD, they should refund it. Or refund it and increase your DD where it doesn't.

Suppliers like to keep you in credit to cover your winter period, so you give them a loan and they make money of it! Its entirely possible to vary your DD with the seasons t prevent running up credits but it really requires you to control it and track your consumption accurately. Even then, you may get it out so you need to factor in a buffer % at a lower rate than the suppliers obviously do.