How do I actually use the Warm Home Discount?

FFS2020

I’ve received a Warm Home Discount of £140 which brings my Octopous Energy account into a £140 credit balance.

I generally pay a Direct Debit payment to them of £20 a month.

How will I actually “use” this Warm Home Discount if I just continue paying my £20 a month?  The monthly £20 covers my usage.  Would I cancel the Direct Debit and then resume it again once I actually have a balance to pay?

Gerry1

Even if you have gas and it's just a bill for electricity, you'll be lucky if £240 per year pays all the bills.

If you're unhappy with a build up of credit, just ask them to reduce the DD a bit, but remember that your usage is likely to increase during winter so the credit may soon evaporate.

Don't even think of cancelling the DD, you'll probably be defaulted to a more expensive tariff.

I'm assuming you're sending monthly meter readings.  If not, and your bills are estimated, there may be a case of bill shock coming down the tracks.

FFS2020

Gerry1 said:

Even if you have gas and it's just a bill for electricity, you'll be lucky if £240 per year pays all the bills.

If you're unhappy with a build up of credit, just ask them to reduce the DD a bit, but remember that your usage is likely to increase during winter so the credit may soon evaporate.

Don't even think of cancelling the DD, you'll probably be defaulted to a more expensive tariff.

I'm assuming you're sending monthly meter readings.  If not, and your bills are estimated, there may be a case of bill shock coming down the tracks.

I'm not some sort of student paying bills for the first time ever -- I've been running my own home for 20+ years.  So obviously I know what sort of electricity usage I have.  No shocks here -- my bills are based on actual usage via meter reads.  There is no legal obligation for me to pay by Direct Debit that I am aware of....

MWT

FFS2020 said:

I'm not some sort of student paying bills for the first time ever -- I've been running my own home for 20+ years.  So obviously I know what sort of electricity usage I have.  No shocks here -- my bills are based on actual usage via meter reads.  There is no legal obligation for me to pay by Direct Debit that I am aware of....

Don't cancel the DD, just reduce it.

You can change the amount you pay each month using the online portal, so just reduce the £20 to say £5 and let the balance run down.

RelievedSheff

FFS2020 said:

Gerry1 said:

Even if you have gas and it's just a bill for electricity, you'll be lucky if £240 per year pays all the bills.

If you're unhappy with a build up of credit, just ask them to reduce the DD a bit, but remember that your usage is likely to increase during winter so the credit may soon evaporate.

Don't even think of cancelling the DD, you'll probably be defaulted to a more expensive tariff.

I'm assuming you're sending monthly meter readings.  If not, and your bills are estimated, there may be a case of bill shock coming down the tracks.

I'm not some sort of student paying bills for the first time ever -- I've been running my own home for 20+ years.  So obviously I know what sort of electricity usage I have.  No shocks here -- my bills are based on actual usage via meter reads.  There is no legal obligation for me to pay by Direct Debit that I am aware of....

You would need to check the terms and conditions of your tariff but some do require payment by direct debit. Cancelling the direct debit will then default you onto an expensive standard rate tariff.

Continue paying as you are and then at the end of your tariff term if you have a credit amount you can get that amount back as a refund.

matelodave

FFS2020 said:

Gerry1 said:

Even if you have gas and it's just a bill for electricity, you'll be lucky if £240 per year pays all the bills.

If you're unhappy with a build up of credit, just ask them to reduce the DD a bit, but remember that your usage is likely to increase during winter so the credit may soon evaporate.

Don't even think of cancelling the DD, you'll probably be defaulted to a more expensive tariff.

I'm assuming you're sending monthly meter readings.  If not, and your bills are estimated, there may be a case of bill shock coming down the tracks.

I'm not some sort of student paying bills for the first time ever -- I've been running my own home for 20+ years.  So obviously I know what sort of electricity usage I have.  No shocks here -- my bills are based on actual usage via meter reads.  There is no legal obligation for me to pay by Direct Debit that I am aware of....

No one suggested that you were a student, however many tariffs are only available to those who pay by direct debit and therefore you will terminate the contract if you stop your DD. In which case the supplier can revert you onto their standard variable tariff which usually costs significantly more, not only that if it's a condition of the tariff the may apply SVT back to day one of your contract as others have found to their cost.

So beware of just arbitrarily cancelling it without checking if there might be unforeseen consequences - people are just trying to help answer your question, so please don't snap their heads off.