Igloo Energy Payments-need to know

DorsetDave2

I have recently gone over to Igloo Energy for dual fuel after advice from the energy club I was paying too much with my old provider. I knew Igloo uplifted your direct debit through the winter period. I thus thought it would be lowered during the summer months.

However this does not appear to be the case.

The estimate for my monthly payments with the energy club for Igloo was £89. In fact Igloo told me it would be £94. But then the winter uplift would be £113 per month. I assumed this would mean they would only charge me about £75 per month in the summer. But apparaently this isnt the case. They would simply put it down to the £94 per month.
They advised the following " Your direct debit for the winter months would be £113.54, then £94.62 from April. If this results in any over-payment, any excess will remain in your account as a credit balance, and receive a 3% interest reward. This can then be refunded to you at your discretion"
This seems complicated [ and perhaps a cheap way for them to borrow money ?]
We are retired and on a fixed budget so would rather pay the same amount throughout the year
Just posting this to advise people of what happens if you go to Igloo

tk47

DorsetDave2 wrote: »

I have recently gone over to Igloo Energy for dual fuel after advice from the energy club I was paying too much with my old provider. I knew Igloo uplifted your direct debit through the winter period. I thus thought it would be lowered during the summer months.

However this does not appear to be the case.

The estimate for my monthly payments with the energy club for Igloo was £89. In fact Igloo told me it would be £94. But then the winter uplift would be £113 per month. I assumed this would mean they would only charge me about £75 per month in the summer. But apparaently this isnt the case. They would simply put it down to the £94 per month.
They advised the following " Your direct debit for the winter months would be £113.54, then £94.62 from April. If this results in any over-payment, any excess will remain in your account as a credit balance, and receive a 3% interest reward. This can then be refunded to you at your discretion"
This seems complicated [ and perhaps a cheap way for them to borrow money ?]
We are retired and on a fixed budget so would rather pay the same amount throughout the year
Just posting this to advise people of what happens if you go to Igloo

Or maybe a very good way to lend money? :cool:
You won't get anywhere near 3% interest in any savings account, and your balance is fully protected

But, just to set the record straight:

How do you set my Direct Debit?

Your Direct Debit is based on the amount of electricity and/or gas you use each year. We use this to predict how much this will cost you over a year based on our Igloo Pioneer tariff.


The amount we expect you to use is then divided into 12 equal monthly payments. This is the amount that you pay each month via Direct Debit.
During the winter months most people spend more on their energy compared to the summer. Your payments are set to cover your usage over the year. This means that during the summer months, the additional credit you build up is used to cover the extra energy you use over winter, so it’s a good idea to leave this balance on your account. If you join us between 1st August and 31st March then we recommend you pay our Winter Uplift during your first year as you haven’t had the chance to build up this additional credit buffer.

https://support.igloo.energy/hc/en-us/articles/360003853937-How-do-you-set-my-Direct-Debit-

Winter Uplift payments

What is the 'Winter Uplift' for?
If you switch over to us between 1st August and 31st March, we will add an optional 20% winter uplift to your normal monthly payments collected over October to April's payments. We all use more energy in winter and it's to give you an initial buffer during your first year with us in order to help you avoid a big bill at the end of winter.



If you'd prefer we didn't add the uplift, you can opt out.

https://support.igloo.energy/hc/en-us/articles/360001325609

Can I change the amount I pay you each month?

Yes you can. If you think that you are paying us too much or too little then please get in touch with us so that we can review your monthly payments with you. It's a good idea to update your meter readings if you haven't submitted one in a while so we can look at how well your payments cover your usage.



Just so you know, we review your payments in line with your usage every three months.

https://support.igloo.energy/hc/en-us/articles/360003853977-Can-I-change-the-amount-I-pay-you-each-month-

DorsetDave2

Thanks for the replies. Its a little worrying [ and over complicated] as am on a tight budget. Will see how it goes from here. Cheers

bdb47

I also switched to Igloo following an energy club recommendation now being told I can get cheaper elsewhere, have had the £25 cashback are there any other perks in the pipeline I don't remember about or should I just switch again, I know there are no penalties for switching.