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Electric Hugely In Credit
Terrysdelight
Posts: 1,202 Forumite
in Energy
Hi
I have just checked my friends meter and he is massively in credit - to the tune of £750! I have updated his account online and submitted a photograph of the meter.
I wouldn't be surprised if the company he is with is about to go to the wall. I had a google and recently Ofgem have ordered the Company to make an overdue payment of £450k to the Feed in Tariff. They also fined the company £100k.
Seeing as friend is so far in credit I have advised him to cancel his direct debit.
Assuming the company does go to the wall, does anyone know if he will lose the advance payments :-(
I have just checked my friends meter and he is massively in credit - to the tune of £750! I have updated his account online and submitted a photograph of the meter.
I wouldn't be surprised if the company he is with is about to go to the wall. I had a google and recently Ofgem have ordered the Company to make an overdue payment of £450k to the Feed in Tariff. They also fined the company £100k.
Seeing as friend is so far in credit I have advised him to cancel his direct debit.
Assuming the company does go to the wall, does anyone know if he will lose the advance payments :-(
0
Comments
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I wouldn't have cancelled the direct debit but if his supplier collapses his balance will be safe0
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Outfox the Market?0
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Sounds like Symbio from what he said (IIRC)mparter said:Outfox the Market?0 -
@Terrysdelight Take care when looking at on line accounts. While they show as a credit the DD's received and adjusted for previous credits/debits they may not show the cost of energy for the last 3 or 6 months.
Keep a simple spreadsheet and do some calculations.Never pay on an estimated bill. Always read and understand your bill0
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