Cancelling electric DD what happens?

tori.k

This morning I managed to zero out my bank balance (unexpected car bill) this in itself isnt a problem as we have enough food in and a minuscule emergency fund of £80 (im working on it) and payday is only a couple of weeks away.

But, there is always a but I have The electric DD left to go out to I supply energy for £75. im in credit with this account as they reimbursed me a month ago due to winter weighing but kept a £100 buffer and haven't adjusted my DD so im still building credit im tempted to cancel my DD as what is in the account now will cover the end bill as im switching in June. if I do this will it cause a problem with my switch? I can't contact them by phone due to their opening hours and they never replied to the online messaging. anybody done this before?

HappyMJ

tori.k wrote: »

This morning I managed to zero out my bank balance (unexpected car bill) this in itself isnt a problem as we have enough food in and a minuscule emergency fund of £80 (im working on it) and payday is only a couple of weeks away.

But, there is always a but I have The electric DD left to go out to I supply energy for £75. im in credit with this account as they reimbursed me a month ago due to winter weighing but kept a £100 buffer and haven't adjusted my DD so im still building credit im tempted to cancel my DD as what is in the account now will cover the end bill as im switching in June. if I do this will it cause a problem with my switch? I can't contact them by phone due to their opening hours and they never replied to the online messaging. anybody done this before?

As long as the last bill has been paid in full then no it will not cause a problem with your switch.

You're in credit so I would cancel it.

Bark01

If your DD fails (or if you cancel it) before your last payment, you will fall on to the cash/cheque version of what ever tariff you are in for your last bill. You will end up paying more (~50-100 per year) until you reinstate your DD.

Can you not speak to your bank and arrange a temporary over draft?

HappyMJ

Bark01 wrote: »

If your DD fails (or if you cancel it) before your last payment, you will fall on to the cash/cheque version of what ever tariff you are in for your last bill. You will end up paying more (~50-100 per year) until you reinstate your DD.

Can you not speak to your bank and arrange a temporary over draft?

Switching in June so the extra cost for a couple of weeks isn't going to be too much and as nothing is owed can they really keep taking money. I don't think so.

I wouldn't pay them any more than necessary.

MABLE

I would be inclined to try and get/increase an overdraft facility. That way everyone will be kept happy. Also the majority of energy suppliers now report to credit reference agencies and having a failed dd may cause you bigger problems.

Also why not put the situation to your supplier and they may suggest a remedy.

footyguy

tori.k wrote: »

This morning I managed to zero out my bank balance (unexpected car bill) this in itself isnt a problem as we have enough food in and a minuscule emergency fund of £80 (im working on it) and payday is only a couple of weeks away.

But, there is always a but I have The electric DD left to go out to I supply energy for £75. im in credit with this account as they reimbursed me a month ago due to winter weighing but kept a £100 buffer and haven't adjusted my DD so im still building credit im tempted to cancel my DD as what is in the account now will cover the end bill as im switching in June. if I do this will it cause a problem with my switch? I can't contact them by phone due to their opening hours and they never replied to the online messaging. anybody done this before?

When did you send the online message?

iSuppyEnergy staff are only available to respond to your messages during their normal opening times i.e. when their phone lines are also open.

They can typically take 2-3 working days to respond to any online message (but get confused if you send multiple messages, when they may only answer your latest one). I also notice they do attempt to clear online messages on a Friday afternoon, before the weekend when they don't work. (but they might not if you only sent that message that Friday).

You have done the right thing in contacting them if you are struggling to pay.
(But bear in mind the above timescales, so if the payment is due to come out earlier, best to speak to them on the phone, even if that means going to ask your employer for permission to do so)
They will tell you the options available to you.

The supplier, like others, will not be best pleased if (without notification) the monthly payment fails for any reason, or you have cancelled the DD mandate.

See section 11 of their terms for possible consequences of failing to pay on time.

If you are in the process of switching supplier, this will not be affected.

GingerBob_3

MABLE wrote: »

I would be inclined to try and get/increase an overdraft facility. That way everyone will be kept happy. Also the majority of energy suppliers now report to credit reference agencies and having a failed dd may cause you bigger problems.

Also why not put the situation to your supplier and they may suggest a remedy.

This is true, and is a classic example of the dysfunctional nature of credit reporting. They owe you money, but if you cancel the DD they could well assault you with a delinquent marker. In most walks of life this could almost be construed as fraud, but in the murky world of credit reporting such actions are sanctioned at the highest levels. A deplorable state of affairs.


Advice: cancel the DD but ring them up to tell them you're doing so.

footyguy

HappyMJ wrote: »

...
I wouldn't pay them any more than necessary.

It is necessary to pay what you have agreed to pay. i.e. the agreed monthly DD

Any balance owed either way will be settled once the final bill is prepared. Don't try and jump the gun, as it will cause numerous problems ... and unfortunately, iSupplyEnergy being a cheap supplier are not very good at handling problems, not unless there is a real threat of the matter going to the ombudsman imminently.

GingerBob_3

footyguy wrote: »

It is necessary to pay what you have agreed to pay. i.e. the agreed monthly DD

Any balance owed either way will be settled once the final bill is prepared. Don't try and jump the gun, as it will cause numerous problems ... and unfortunately, iSupplyEnergy being a cheap supplier are not very good at handling problems, not unless there is a real threat of the matter going to the ombudsman imminently.

On the more general point, WhoTF are iSupplyEnergy? It seems to me that as a result of the government pushing for "greater competition" we now have what amounts to a rogue industry, on a par with the parking industry, that has suddenly sprouted to take advantage of the situation. What do they provide, other than an invoicing "service". Do they generate electricity or actually supply gas? Do they distribute it? Or do they just rake off a cut as middlemen?

System

GingerBob wrote: »

On the more general point, WhoTF are iSupplyEnergy? It seems to me that as a result of the government pushing for "greater competition" we now have what amounts to a rogue industry, on a par with the parking industry, that has suddenly sprouted to take advantage of the situation. What do they provide, other than an invoicing "service". Do they generate electricity or actually supply gas? Do they distribute it? Or do they just rake off a cut as middlemen?

A bit harsh. OFGEM doesn't hand out supply licences without carrying out the appropriate checks (Due Diligence) The clue is in the word 'supply'. All these companies have to purchase gas and electricity from the wholesale market. This is where competition between suppliers kicks in.

Yes, it is true that the energy that arrives at your property comes from a grid system. That said, your chosen supplier has to arrange for energy to be supplied to the grid to meet its customers' energy requirements. There is a bit more to it than just switching, billing and complaints handling.

GingerBob_3

Hengus wrote: »

A bit harsh. OFGEM doesn't hand out supply licences without carrying out the appropriate checks (Due Diligence) The clue is in the word 'supply'. All these companies have to purchase gas and electricity from the wholesale market. This is where competition between suppliers kicks in.

Yes, it is true that the energy that arrives at your property comes from a grid system. That said, your chosen supplier has to arrange for energy to be supplied to the grid to meet its customers' energy requirements. There is a bit more to it than just switching, billing and complaints handling.

True, but they don't actually produce anything. It reminds me of many years ago when I worked in a sand quarry. A local builders merchant sold sand. If a customer ordered a ton of sand from them, they would ring us up with the address details and we would deliver it direct to the customer from our stock pile. Nice money if you can get it!