EDF Direct Debit

garethbrock

I currently pay £75 per month for my gas and electric via direct debit. I'm on a long term fix so prices haven't gone up. They are refunding me just over £130 from the last year. But they have also said they are putting my direct debit up by £5 per month.

Can I ask them to keep the money on the account and not make the change to direct debit.

I don't understand why they are putting my payment up to what is in reality a £15 per month increase.

Any thoughts?

JJ_Egan

Its not an increase your prices are fixed .
Usual with a DD increase is that your current consumption exceeds your current DD .

garethbrock

JJ_Egan wrote: »

Its not an increase your prices are fixed .
Usual with a DD increase is that your current consumption exceeds your current DD .

Im fine with that, completely understandable - so why the refund?

naedanger

garethbrock wrote: »

I currently pay £75 per month for my gas and electric via direct debit. I'm on a long term fix so prices haven't gone up. They are refunding me just over £130 from the last year. But they have also said they are putting my direct debit up by £5 per month.

Can I ask them to keep the money on the account and not make the change to direct debit.

I don't understand why they are putting my payment up to what is in reality a £15 per month increase.

Any thoughts?

If you are on a tariff where the prices next year will be the same as those last year, then I think you should ask why your direct debit is being increased when last year you used on average about £65pm.

(I am not sure why you want them to keep the £130 on account, but again you can ask them to do so and I cannot see why they would object.)

System

garethbrock wrote: »

Im fine with that, completely understandable - so why the refund?

Because they now how to comply with Govt policy as directed by OFGEM. The Govt view was that energy companies were in effect getting an interest free loan by hanging on to customers' credit balances.

http://www.which.co.uk/energy/saving-money/guides/keeping-your-energy-direct-debit-in-check/your-energy-direct-debit-rights/

That said, it would seem that you can ask them to retain the balance given that the amount is relatively small. The problem with Govt policy is that the administration incurred undoubtedly leads to increased costs and ever-changing DD amounts. But the Govt knows best .........:D

SoletraderSteve

Have you paid £75 monthly for the past 12 months? Mmore than likely you will have started off paying more, and will have been reduced to clear some credit and you have finished still in credit which has been refunded to you. So your direct debit will be worked out on your past 12 months usage and projected costs with a current balance of zero.

Bark01

The DD is set to pay off your personal projection in 12 equal payments. If you are on a fixed price that end in less than 12 months the DD will be factoring in that you will change tariffs to standard (variable) at some point his year.

The outstanding balance is refunded once each year, if you don't want it you can always just pay it back to EDF by a one off credit. The DD will then be altered to included it next time you submit a meter read.

footyguy

garethbrock wrote: »

I currently pay £75 per month for my gas and electric via direct debit. I'm on a long term fix so prices haven't gone up. They are refunding me just over £130 from the last year. But they have also said they are putting my direct debit up by £5 per month.

Can I ask them to keep the money on the account and not make the change to direct debit.

I don't understand why they are putting my payment up to what is in reality a £15 per month increase.

Any thoughts?

You can ask them. They probably will agree to such a request.

If not, you can always credit the account with the £130 once you receive it, and then that will automatically produce a revised DD amount to be collected at the next review.

To be honest, the EDF calculation of the DD they want to collect is a law unto itself (imho)
For a current £75 p.m collection, and only a £80 p.m new amount, I'm sure they will agree to hold the original £75 on request and give you back the £130