Dilema

Nada666

cmjl wrote: »

I have one direct debit and that pays off my credit card in full every month and every bill I can gets paid with the credit card.Yes,it may seem to cost more but does it?

Yes, it does. Or do you receive at least 6% cashback and up to more than 20% on your credit card? I somehow doubt that.

cmjl wrote: »

The dilemma is that there seem to be very few companies who do quarterly bills,I had tried a few comparison sites before I asked my question,I'll see what Ebico are like - thank you IIona

Only Eon, EDF, Green Star, npower, Ebico, Utility Warehouse, Scottish Power, M&S, Good Energy, Green Star, SSE, British Gas, Sainsbury, Ecotricity, Co-operative Energy, Green Energy, British Gas, Spark...

There are very few companies who do not allow quarterly payments.

I can't see the problem - if you have the discipline and spare income to pay off quarterly variable bills without incurring credit card interest I can't see why you can't just ride the vagaries of a monthly direct debit (which would be at least 6% cheaper.)

But it's your choice. Pay more if you like.

Ilona

JJ_Egan wrote: »

No standing charge but you pay for it with a much higher per Kwh charge .
In some cases this may work out cheaper especially with zero or low summer use . Generally though its a more expensive tariff .

I wouldn't say much higher, a bit higher yes. I prefer it this way because I am in control, if I use zero energy then I pay zero £'s. I am a very low user, and I can budget my bills over the whole year. I know I will use more in the winter, therefore I save up some cash for it.
Ilona

cmjl

As IIona says 'I prefer it this way because I am in control'.
We only pay for the electric we have used not paid in advance for what the company think we will use (which may or may not be correct).

System

cmjl wrote: »

As IIona says 'I prefer it this way because I am in control'.
We only pay for the electric we have used not paid in advance for what the company think we will use (which may or may not be correct).

I am sorry but what you are saying is complete nonsense. Whether you pay by DD, cash or in grouts you will only pay for the energy that you consume. If you do not provide the energy company with meter readings then you could well find that your quarterly bill is estimated as energy companies only have to read your meter once every 2 years.

Like most people, I am on a DD plan. I get monthly statements (and I could get them every 2 weeks if I so wished) if I provide actual readings. If my usage differs significantly from the annual projection, then I have 2 options: one, I can accept the revised monthly DD or, two, I can make a small top up payment.

That said, we must all make our own decisions in life and as others have suggested most energy companies will provide quarterly billing but, as I have said, it may not be an accurate bill unless you provide the company with actual meter readings.

[Deleted User]

British Gas operate an "Energy Smart " option, designed for customers who dont like direct debits. You put in a monthly reading and you are direct debited an exact amount of your monthly usage, just like you d pay as if you `d gone to the Post Office to pay it. This means you would qualify for the lower rates of D/D and fixed yearly deals. UKpower is a good comparison site showing all the tariffs

macman

Ilona wrote: »

I wouldn't say much higher, a bit higher yes. I prefer it this way because I am in control, if I use zero energy then I pay zero £'s. I am a very low user, and I can budget my bills over the whole year. I know I will use more in the winter, therefore I save up some cash for it.
Ilona

But if you used a DD properly set (based on your annual usage divided by 12) then you wouldn't need to save up for the winter. It makes no sense, unless your income happens to increase when the heating goes on.
You are not in control, because you are screening out almost all the cheaper tariffs by wanting quarterly billing.

Ilona

Hengus wrote: »

That said, we must all make our own decisions in life and as others have suggested most energy companies will provide quarterly billing but, as I have said, it may not be an accurate bill unless you provide the company with actual meter readings.

I do provide my supplier with accurate readings, I email them once a month.
Ilona

Ilona

macman wrote: »

But if you used a DD properly set (based on your annual usage divided by 12) then you wouldn't need to save up for the winter. It makes no sense, unless your income happens to increase when the heating goes on.
You are not in control, because you are screening out almost all the cheaper tariffs by wanting quarterly billing.

My income stays the same over the whole year. I budget all my spending over the whole year. I save up for everything, I will need to change my car in two years, I am saving for that now. My bank balance is healthy, I have money put away for emergencies, and all saved on a pension. It isn't rocket science read my blog to see how I do it.

The being in control means I pay for my utilities after I have consumed them, I pay for what I use. I have read many horror stories about direct debits going up and down like a fiddlers elbow whenever the companies feel like it. I don't have to get on the phone, wait in a queue, press a load of buttons to speak to a person because they have made a mistake. I have my bills for the last ten years, I know how much I will be paying every quarter. I am brilliant at budgeting, and my system suits me.
Ilona

r2015

My income stays the same over the whole year.

Like most pensioners.

I have an excel spreadsheet that has my income (pensions, so the same every month) and outgoings (DDs again the same every month except my council tax which is 10 months so a bonus in Feb and March) and I know up to a year in advance how much money I will have.

I know how much I can spend on holidays a year in advance.
I also have an emergency fund of a few £000s.

All it needs is discipline.

System

Ilona wrote: »

My income stays the same over the whole year. I budget all my spending over the whole year. I save up for everything, I will need to change my car in two years, I am saving for that now. My bank balance is healthy, I have money put away for emergencies, and all saved on a pension. It isn't rocket science read my blog to see how I do it.

The being in control means I pay for my utilities after I have consumed them, I pay for what I use. I have read many horror stories about direct debits going up and down like a fiddlers elbow whenever the companies feel like it. I don't have to get on the phone, wait in a queue, press a load of buttons to speak to a person because they have made a mistake. I have my bills for the last ten years, I know how much I will be paying every quarter. I am brilliant at budgeting, and my system suits me.
Ilona

I am also on a pension. Like you, I have many years of old energy bills which I use to estimate my future energy usage. There are 3 reasons why DDs fluctuate but the primary reason is that OFGEM would like to see a zero balance at a customer's annual review date. Like many others in our position, I like that fact that I know that my energy will 'cost' me £xs per month. I know that my payment amount has been calculated so that I save towards my higher winter consumption. I like the fact that my supplier gives me a £60 pa online discount and 3% interest on all credit balances. As I have said, I monitor my energy usage very closely because I know that I will end up paying for what I use, and an annual projection is nothing more than a best guess estimate.

You are clearly doing the same so why limit your options such that you are paying more for your energy than you need to? The problem with reading forums such as MSE is that it gives the impression that most people are spending hours talking to their energy supplier. Nothing could be further from the truth given the millions of energy users in this country.