Monthly Direct Debit much higher than 'estimated monthly amount'

01NSkinner

Any advice on this? It's not helped by companies being resistant to changing the Direct Debit figure they pluck out of the air. Even if it starts this time of year with the lower energy use first. Is there a list of good companies that don't put a premium on your Direct Debit to begin with and are prepared to change quickly if they charge too much?
Thanks for any advice...

Gerry1

You'd do better with Variable Direct Debit.  Shell Energy, E.On, EDF, SSE, Green Network Energy, Robin Hood and Ecotricity are some of the companies that offer this.

MWT

You have to get used to the fact that the 'estimated monthly amount' used by the switching sites is completely worthless.

The only thing that matters is your actual usage based on actual meter readings, so either take Gerry's advice and find somewhere that will offer you a variable direct debit that takes a payment for exactly what you use each month (and make sure you give them a meter reading each month to avoid estimates), or get used to the fact that your new supplier is aiming to bill you for 1/12th of the annual usage they figure you will have and that is going to vary as they get a feel for what you actually use...

It isn't really a 'premium' at this time of year if they charge more than you are using, it is just building up a reserve for winter.

matelodave

I've been with about 10 suppliers in the last ten years and apart from Sottish Power I've told them what my annual consumption will be, I've worked out what it's going to cost over the 12 months, I've ten divided it by 12 and that's been my what my DD has cost. It was only Scottish Power who kept faffing around with it and even Symbio saw the errror of their ways when I gave them a flea in the ear last November. - they reduced my payment and so they've now got a deficit of £50 which will follow right through to the end of my contract.

I then monitor my monthly consumption against my own consumption profile to ensure that it's tracking it properly - works for me.

Neil_Jones

01NSkinner said:

Any advice on this? It's not helped by companies being resistant to changing the Direct Debit figure they pluck out of the air. Even if it starts this time of year with the lower energy use first. Is there a list of good companies that don't put a premium on your Direct Debit to begin with and are prepared to change quickly if they charge too much?
Thanks for any advice...

I suggest you read up on Energy direct debits work:

https://www.moneysavingexpert.com/utilities/lower-energy-direct-debits/

bristolleedsfan

01NSkinner said:

Any advice on this? It's not helped by companies being resistant to changing the Direct Debit figure they pluck out of the air. Even if it starts this time of year with the lower energy use first. Is there a list of good companies that don't put a premium on your Direct Debit to begin with and are prepared to change quickly if they charge too much?
Thanks for any advice...

Some will make monthly payment recommendations and let the customer decide how they wish to run own energy account and let customer set own monthly DD amount within online console .....

01NSkinner

Thanks for the replies. I think I was hoping for a list of companies who EITHER tend to set the DD right to begin with (as originally posted I've no problem with an increased DD that begins in the Autumn to cover the increased winter usage, but there shouldn't be any need to do that with one that begins in the Spring) OR are very quickly responsive to emails / phone calls to reduce DDs that are set too high. Many thanks.

Talldave

Pure Planet set a higher DD for six months of the year and and a lower one for the other half of the year. I quite liked that approach when I was with them.

bristolleedsfan

I was referring to Octopus Energy in my earlier reply, this Blog kinda sums up they let customer have complete control over monthly DD  https://octopus.energy/blog/account-health/

"The bottom line is, we're not enforcing any change, and if you think there's an issue, we want to hear from you so we can fix it. You have complete control of your payments through your online account. You can adjust your Direct Debit amount up or down whenever you want. If you have a lot of credit on your account, you can even request a refund."

Neil_Jones

01NSkinner said:

Thanks for the replies. I think I was hoping for a list of companies who EITHER tend to set the DD right to begin with (as originally posted I've no problem with an increased DD that begins in the Autumn to cover the increased winter usage, but there shouldn't be any need to do that with one that begins in the Spring) OR are very quickly responsive to emails / phone calls to reduce DDs that are set too high. Many thanks.

You only get the right Direct Debit amount if you give the provider the right usage in the first place.

If you say you use x thousand per year and you actually use y thousand, which is z hundred up/down, you're going to be in or out of credit/debit.

There are feedback/experience threads for most major suppliers throughout the forum and scores on the Energy Club so you can get an idea of who's good at doing what, or not doing what.  Note that just because Sarah Jane wrote a review saying Dalek Gas is crap doesn't mean Zippy & George will find the experience crap as well, they may find it the best thing since sliced bread.  Your mileage may vary.