Advice on credit balance

Skellers

I currently pay my energy bills by direct debit on EDF's Blue Price Promise tariff. With my latest bill, I am £220 in credit. Given that my monthly payment is quite steep and that I am in credit after quite a chilly winter, I have asked for a refund of the credit balance and have asked them to review my monthly payment with a view to reducing it - because I'm not using my heating, longer daylight hours, etc - I'm not going to be using as much energy. They have responded telling me that the price is "fixed by the system" and that it's not advisable to have a refund because my payments might go up! Not really sure what to do about it now.

Anyone else had a similar experience with EDF?

I get the impression they don't want to review my account and just want to keep my cash - seems they're trying to put me off a refund by suggesting they will put my bill up, even though I am in credit.

pauletruth

your money demand its return. keep maybe 50 in credit just in case its a cold winter coming.

if your paying too much tell them you want to reduce the direct debit by say 20 quid. just be careful you want to remain just in credit.

mazziem

It is a fixed system but you can do as you please, its agents who dont like to stray from the guides.They say not to take credit balances as its the build up for the winter. I'd maybe meet half way and say you'll have £100 credit returned and the direct debit lowered.

Just remember summer is to cover your winter x

rogerblack

mazziem wrote: »

It is a fixed system but you can do as you please, its agents who dont like to stray from the guides.They say not to take credit balances as its the build up for the winter. I'd maybe meet half way and say you'll have £100 credit returned and the direct debit lowered.

Just remember summer is to cover your winter x

Noting of course that if you're on a fixed deal, your pricing at the end of it may be significantly higher!
When I switch from my current plan, I'm going to be facing a rise of at least 30%.

Pineapple88

At this time of year you should be starting to build up a credit to get ready for next winter but £220 is definately quite a lot to have left over. EDF should not argue with giving you a refund but as previous posters have said it may be advisable to leave some credit on the account and to also be aware that your credit will build up again over summer.

It is possible that the annual consumption figures that EDF are using are incorrect and this is why they are saying the dd must increase. You should ask them for these figures (in KWH not £) and then feed them into a price comparison website with your current tariff to give you your monthly direct debit figure. If you believe that they give a dd reading that it too high you can check the figures yourself using a meter reading taken today and another actual reading taken from around this time last year. If this differs from their figures then tell them so they can correct it and adjust your dd accordingly.

For electricity: today's reading-last year's reading divided by number of days x 365

For gas you will also need to convert from cubic feet/meters to KWH. There will be a calculation on your bill or if you are usure I'm sure some lovely person on the forum would be able to help if you post to figures.

Wywth

Skellers wrote: »

I currently pay my energy bills by direct debit on EDF's Blue Price Promise tariff. With my latest bill, I am £220 in credit. Given that my monthly payment is quite steep and that I am in credit after quite a chilly winter, I have asked for a refund of the credit balance and have asked them to review my monthly payment with a view to reducing it - because I'm not using my heating, longer daylight hours, etc - I'm not going to be using as much energy. They have responded telling me that the price is "fixed by the system" and that it's not advisable to have a refund because my payments might go up! Not really sure what to do about it now.

Anyone else had a similar experience with EDF?

I get the impression they don't want to review my account and just want to keep my cash - seems they're trying to put me off a refund by suggesting they will put my bill up, even though I am in credit.

How often do you review my payments? We'll endevour to review your monthly payments twice a year, looking at your current balance, and estimating the amount of energy we think you’ll use during the year. We also take into consideration the tariff you’re on and any discounts you’re due. Keeping payments at the right level should avoid your balance getting too large.

and

Will you send me a refund if I am in credit? We will automatically credit your bank or building society account with a refund at your annual review if your credit balance is over £150 or more. However you can still contact our team at anytime to discuss your account balance

http://www.edfenergy.com/products-services/for-your-home/direct-debit/direct-debit-frequently-asked-questions.shtmlHTH

wakeupalarm

Edf are hopeless with setting correct direct debits. The Energy cartel want you to be massively in credit so that they can earn millions of pounds in interest on your money to pay for their fines.

http://www.telegraph.co.uk/finance/p...utilities.html

http://www.thisismoney.co.uk/money/b...ing-probe.html