Direct debit meters

lee.rogers

last week i had the meters in my new home changed from key and card to direct debit meters.

EDF have put me on their standard variable rate for the time being , which i know is going to be really poor .

As i do not have any usage data , comparison engines are not that reliable on advising which tariff is best for me . im looking for advise on the best way to proceed. Do i have to wait until i have about a months worth of data before i start looking to switch, or do i have other options.

i was on key and card for gas and electric for about a month or so and was spending about £40/45 on each in that time.

SoletraderSteve

The Standard (Variable) tariff you are on is the same as what you were on when you had Prepayment. When you change your meter you initially have to switch like for like onto the Cash/Cheque payment method then once changed you can choose a better tariff and payment method such as one of their Blue fixed tariffs with no exit fees and or Direct Debit, which is cheaper still because the unit rates are lower. Use property details or national average usage for a guide now.

Nada666

If you don't have an idea from last month with the prepayment meter what a likely usage is and the state of your insulation then waiting one more month is not going to help, is it?

You are probably as well to just take EDF's Blue Price Promise Nov 2016 tariff by direct debit - and do ask for it today - that'll save you hundreds of pounds. The first month switched will save you more in that one month (more than likely) than an after-the-fact optimum annual difference.

Bark01

Nada666 wrote: »

If you don't have an idea from last month with the prepayment meter what a likely usage is and the state of your insulation then waiting one more month is not going to help, is it?

You are probably as well to just take EDF's Blue Price Promise Nov 2016 tariff by direct debit - and do ask for it today - that'll save you hundreds of pounds. The first month switched will save you more in that one month (more than likely) than an after-the-fact optimum annual difference.

Just to add something extra to that EDF don't charge cancellation fees so there is no reason to not sign up the EDF price promise tariff straight away. As your already a customer the change will go through straight away and your free to leave at any point.

The price promise tariff also comes with an online tool that will compare your consumption against the whole market and highlight if you can save money by switching to another supplier. Win - win :beer:

macman

They're called 'credit meters': you don't have to be on direct debit to have them, although many tariffs are DD only.

modsandmockers

A potential problem with having no annual consumption estimate is that, if you sign up to a monthly regular payment plan, the 'fixed' monthly figure will be little better than a guess and therefore subject to random changes during the year. There will also be the possibility of accruing a significant overpayment or underpayment which may cause problems later. I pay EDF using a variable direct debit which means that I pay my bills in full whenever they are produced. EDF charge me no extra for doing it that way and it means that I remain in control. Obviously, I have to be sure that I can manage the seasonal variations in my energy consumption. Starting at this time of year would mean that the first bills will be the high ones.

Monthly 'fixed' payment plans quite often lead to tears because customers mistakenly assume that the energy supplier knows what it is doing.