Advice - Underpaid via direct debit payments

Tamster150

Hi,

What would you do?

EDF reduced our monthly payments (dual fuel) last year and as a result we are now almost £600 in debit. Alongside that is the hefty price hikes, and the fact that we used more energy compared to the previous year (I guess the bad weather) so our DD payments will be going from £50 to £140!

We are on a really poor deal - standard variable rate. However, although they have a slightly better tarif, it’s a 12 month deal with £60 exit charge.

So what is the best way to ultimately clear the debt and get a better deal?

macman

They reduced your DD last year? That is at least 8m ago, so have you not submitted reads since then? You will clear your debt within 6-7 months on those figures. Use any comp site to work out if its cheaper to leave then and switch elsewhere, or switch now to their best fixed tariff and stay on it for 6m more after you've paid off the debt. You can of course overpay if you are able.
Personally, I'd be fixing now, because SVT is only going to go in one direction this winter.

molerat

You need to switch to the cheapest deal they offer and soon as energy prices are only going in one direction. For me the Easy Online Oct 2019 fix is £110 cheaper than the SV rate. CEC is showing Easy Online Exclusive Sep 2019 V4 as another £110 cheaper but a £70 exit fee (which is not a problem as you won't be leaving them early !). That one is only available through a switching site and not available on the EDF website so use a switch site, you may also get £25 cash back.



Going forwards submit meter reads every month and you will instantly get a reading of your account balance and then get a bill.

Tamster150

Thank you for your replies,

You’ve confirmed what I was thinking.

We’ve lived here almost 2 years and I have not been as astute as I was previously at the old property! Grrr! I’ve set a reminder on my phone calendar now to take readings, as edf don’t seem to request or remind very often.

Tamster150

And I’ve requested to switch to the online sept 2018 tarif via mse energy club!

macman

The supplier is only obliged to read once every 2 years: intermediate reads are down to you.

takman

Tamster150 wrote: »

Hi,

What would you do?

EDF reduced our monthly payments (dual fuel) last year and as a result we are now almost £600 in debit. Alongside that is the hefty price hikes, and the fact that we used more energy compared to the previous year (I guess the bad weather) so our DD payments will be going from £50 to £140!

We are on a really poor deal - standard variable rate. However, although they have a slightly better tarif, it’s a 12 month deal with £60 exit charge.

So what is the best way to ultimately clear the debt and get a better deal?

Well the best thing to do would be to do a comparison and find the cheapest energy deal then pay off the £600 in one go and switch as soon as you can.

If an EDF deal is competitive then it might be worth staying but in my comparisons i have found them to be quite a bit more expensive than the cheapest.

System

macman wrote: »

The supplier is only obliged to read once every 2 years: intermediate reads are down to you.

The 2 year meter reading requirement was removed from all supply licences in April 2016. The requirement now is nothing more than ‘obtaining’ a meter reading once every 12 months. Some suppliers were concerned that the change would result in inaccurate bills: Ofgem concluded otherwise.

FWIW, the suppliers that I have used recently have all used third-party data collection services who have read the meters once a year and e-mailed me asking for readings at the 6 month point. I have responded to the e-mail with a simple question ‘ how much are you going to pay me to read my own meters’? I have yet to get a response.

takman

Hengus wrote: »

The 2 year meter reading requirement was removed from all supply licences in April 2016. The requirement now is nothing more than ‘obtaining’ a meter reading once every 12 months. Some suppliers were concerned that the change would result in inaccurate bills: Ofgem concluded otherwise.

FWIW, the suppliers that I have used recently have all used third-party data collection services who have read the meters once a year and e-mailed me asking for readings at the 6 month point. I have responded to the e-mail with a simple question ‘ how much are you going to pay me to read my own meters’? I have yet to get a response.

So you don't read your own meters to ensure accurate bills just because they won't pay you?, how ridiculous!

System

takman wrote: »

So you don't read your own meters to ensure accurate bills just because they won't pay you?, how ridiculous!

I didn’t actually say that if you read my post carefully: then again, it is becoming the norm on this forum to attack the poster rather than the detail in the post. If the Data Collectors want to read my meters they are free to do so at anytime: the meters are located on an external wall. I refuse to do it for them when, presumably, they are getting paid by the supplier to obtain a meter reading.