Fixed Direct Debit How Much Credit

RelievedSheff

For those on fixed direct debit plans , how much credit do you like to have built up over the summer to run down over the winter months?

We have built up a decent amount of credit (£170) but are trying to work out if it will be enough.

For information we moved into a 3 bed detached new build in April so we dont know what winter heating requirements will be in this house, although I can say it is a warm house and needs very little heating.

matelodave

Generally you should be around twice your DD in credit by the end of October.

I've been monitoring my monthly energy consumption for the past nine years and the table below is how my consumption varies throughout the year. I can therefore get a pretty accurate estimate of how much I'll use and how much it will cost me because I know my annual consumption and my annual cost based on that consumption. I know that 70% of my annual energy consumption will be between November and March

My verage annual consumption is 7200kwh and my cost will be £918 which equates to a DD of £76.50 a month.

However based on the info below I know that in January I'll use 17% of my energy = 7200x 17% = 1224kwh and it should cost me £918 x 17% = £156 but in June I'll only use 4% (7200x4% = 288kwh which will cost £36.72).

I therefore need to have a decent credit to tide me over the expensive winter months when my monthly energy cost can be twice my DD. Although because I keep a careful eye on whats going on I know that my account will balance at the end of the 12 months anyway.

Jan = 17%
Feb = 14%
Mar = 12%
Apr = 7%
May = 4%
June =4%
Jul = 4%
Aug = 4%
Sep = 4%
Oct = 6%
Nov = 11%
Dec = 15%

100

RelievedSheff

That's brilliant thank you.

If our usage works out similar to yours per month then we should I reckon have some spare credit by the end of the 12 months.