Utility Point - Trouble Refunding Credit Balance ??

BigBlueSky

Is anyone else having problems getting credit balances refunded by Utilitypoint ?

Myself and a family member are now in credit for between £200 - £300 and a month ago requested a refund of the credit balance.

On one of the accounts we asked for the direct debit amount to be reduced to avoid this - as it is much higher than our usage, but they would only reduce it a small amount. This means that we will never end up using the credit.

The last time I experienced an issue like this was with Iresa who went bust shortly after.

Anyone else had issues (or no issues) getting money back from Utility Point ?

Thanks

MABLE

BigBlueSky wrote: »

Is anyone else having problems getting credit balances refunded by Utilitypoint ?

Myself and a family member are now in credit for between £200 - £300 and a month ago requested a refund of the credit balance.

On one of the accounts we asked for the direct debit amount to be reduced to avoid this - as it is much higher than our usage, but they would only reduce it a small amount. This means that we will never end up using the credit.

The last time I experienced an issue like this was with Iresa who went bust shortly after.

Anyone else had issues (or no issues) getting money back from Utility Point ?

Thanks

Your post feels me with dread. I am about £200 in credit. I am now looking to move away today and in my case there is no exit fees. Also I have never requested any money back as I thought of the winter months.

BigBlueSky

I was thinking of cancelling our direct debits to stop getting into more credit but the T&C's seem to say you will be charged for failed direct debit payments (despite being so much in credit).

We've put in a complaint today with regards to the refund - that is all we can do at the moment.

RelievedSheff

If you get the refund now will your current direct debit amount be enough to cover the winter months when your energy useage will be more?

BigBlueSky

RelievedSheff wrote: »

If you get the refund now will your current direct debit amount be enough to cover the winter months when your energy useage will be more?

Oh yes, more than enough - without eating into the credit (that is the problem)

BigBlueSky

Following me submitting a complaint via their website they have now assured me that they will return part of the credit I have on my account - but only if I increase my monthly direct debit from around £25 per month back to almost £60 (where it was originally - which caused this issue). It doesn't seem right, but getting my high credit balance returned to me is a start.

ashe

Upon leaving them or them going broke you will get your credit balance refunded. Any refunds will need to allow for a months payments minimum, but they are also probably factoring in that you are in credit now, in september, when usage is low, most people are on fixed terms with them - ultimately its about two enter october so your bills will go up until feb/march. assuming you stay with them, this will likely absorb majority of your credit balance, so they will be wanting to keep it in place to factor that in.

Thats what they said to us when we were £300 in credit. we will be leaving January and our payments will be low until Nov I think, so unlikely to use all the credit balance up, but that was their explanation.

Form the feedback thread if you get it refunded they are likely to increase your DD, this seems to be a billing system issue from what they use - as they said something similar to me around if they refund it the DD will end up increasing. seems barmy to me, and I work in the industry as an analyst.

BigBlueSky

Just had money back into accounts just now - so feel better about it

bristolleedsfan

My account was credited with 15.00 compensation after I complained that U.P failed to refund credit to my account within its stated time, that was fair being as they as well as other energy companies charge a 15.00 late payment fee.

tk47

Generally, suppliers will be reluctant to refund credit accrued at this time of the year.
The idea is that you build up credit over the summer to pay towards the heavy use over the winter.

If you insist on getting a refund, don't be surprised if your monthly payment sky-rockets.

If you think the monthly payment is too high in any event, then follow the MSE advice here:
https://www.moneysavingexpert.com/utilities/lower-energy-direct-debits/

With regards to UP, I did not experience any significant issues in gettinmg it re-adjusted - see the UP feedback thread (I think about post#149 onwards iirc)

If you have switched away from UP, then you will not receive a refund (or have to pay an outstyanding balance) until the final bill is produced that specifies what is owed either way.

he

bristolleedsfan

As regards "time for a reality check" people often build up credit due to refer a friend credits which are additional to monthly payments being made.


Best "reality check" IMHO is to only keep as little credit balance as possible in any small energy company even more so those who dont pay interest on credit balances.