Energy Company Withholding Money

in Energy
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ukscankingukscanking Forumite
35 Posts
Part of the Furniture 10 Posts Combo Breaker
Hello
I am in credit with my energy company with a balance of  £1070.
They have told me a refund will take 60 days.
My energy bills are £100-£120pm, I pay £150pm all year round so when my bills fall in summer to £70ish I am gaining credit so I don't have to worry in winter. This has accumulated to £1070. I have been with them for 3 years now.
I have asked for a £1000 refund and they have refused stating I can only have £820,
I wrote back and they now say £870.
I told them if they pay me £1000 that leaves £70 in credit, then if it takes 60 days for a refund I will have accumulated another £60 or so in credit by then leaving around a month's worth of G&E in credit. Their website says they will only ask 'new' customers to leave credit in, of which I am not.
Do I need to leave any in at all? Am I obliged to given I have paid £150pm despite my biggest monthly bill over the past 3 years being £124, I am always in credit and always pay more than I should. 

I'd like to know what you think and appreciate it is good practice to leave a month in but is that a legal requirement to leave a penny in. The company is Utility Point

Many thanks



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Replies

  • dogshomedogshome Forumite
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    We are in strange times and as wholesale energy prices have increased, several suppliers have gone to the wall - Can't say that UP will fail, but if it was my account I'd grab the £870 whilst it's on the table
  • t0rt0iset0rt0ise Forumite
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    I would take the money offered and then demand that the DD be reduced.
  • Robin9Robin9 Forumite
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    @ukscanking I am not sure of your logic of overpaying your DD by so much.  During the winter by at least £30, summer at least £80. Why not about £100 - in credit at the end of summer ready for winter ?
    Never pay on an estimated bill
  • Gerry1Gerry1 Forumite
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    Sign up to another provider today.  You're then likely to get an 'Are You Sure?' message at which point you just say that you'll cancel the switch the moment that you receive your £1000 credit refund, e.g. by Faster Payment.
    If UP don't play ball you can cancel the switch within 14 day cooling off period, so there's nothing to lose by trying it on.
  • btr30btr30 Forumite
    136 Posts
    Part of the Furniture 100 Posts Combo Breaker
    I presume DD is now set to £0 so you are not further increasing this credit balance?
  • MWTMWT Forumite
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    The 60 days part is crazy, there is no reason for a refund to take more than a few days.
    I'd be switching away as soon as possible and if their website allows you to set a lower DD payment do it immediately.
    Should have reduced that DD long ago.
    That's one of the things I love about Octopus, complete freedom to set my DD where I want it to be and to adjust it during the year as my usage varies, or keep it low and just make additional payments instead.
  • bristolleedsfanbristolleedsfan Forumite
    9.3K Posts
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    Hello
    I am in credit with my energy company with a balance of  £1070.
    They have told me a refund will take 60 days.


    Do I need to leave any in at all? Am I obliged to given I have paid £150pm despite my biggest monthly bill over the past 3 years being £124, I am always in credit and always pay more than I should. 

    I'd like to know what you think and appreciate it is good practice to leave a month in but is that a legal requirement to leave a penny in. The company is Utility Point

    Many thanks



    Utility Point terms and conditions used to state they refund within 28 days of a refund request, which they often failed to do, now no timescale is mentioned.
    Reality is entirely possible that they would not meet own 60 day period for refunding
    Best thing is to start switch out as was said earlier or submit refund request for  the figure that they have agreed to refund and put immediate complaint in complaining about time stated to refund credit that belongs to you  or submit refund request for amount you want refunded and lodge immediate complaint on both grounds .......
  • ukscankingukscanking Forumite
    35 Posts
    Part of the Furniture 10 Posts Combo Breaker
    I am too late to leave and would have to pay their £60 leaving fee for both G&E. Do I formally complain to them or the ombudsman? I know it shouldn't take 60 days. I think it is quite ridiculous. I don't want to go into too much detail on why I have so much credit in but I am poorly and wanted the credit for my wife should my treatment not work and the worst happens. But, it got so big I wanted to transfer the £1k to a separate account just for her G&E, hence why it is so much. I've asked for an explanation as to why it takes 60 days but heard nothing back. Thank you for all the help. 
  • Robin9Robin9 Forumite
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    @ukscanking Accept the £870 (in writing) and change your DD to say, £70. Change supplier when your fix ends.
    Never pay on an estimated bill
  • wild666wild666 Forumite
    508 Posts
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    I got nearly £900 back from Bulb when I left them, I wasn't going to switch providers but they increased their prices for the second time in 12 months. I was going to let it build up and ask for a refund when the PS5 became available at any time.
    Someone please tell me what money is
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