Credit from Utility Point

sumodogy

I was with UP for a couple of months before they went bust and was transferred to EDF. EDF have confirmed to me that UP have credited over £3k to my account! Any ideas?

Staffordian11

Any ideas about what?

Are you saying this is wrong?

If so, I'd advise querying it. If a mistake has been made, and you have received a credit to which you are not entitled, they will undoubtedly claim it back so if it were me, I'd try to get it resolved asap.

QrizB

Welcome to the forum.

sumodogy said:

I was with UP for a couple of months before they went bust and was transferred to EDF. EDF have confirmed to me that UP have credited over £3k to my account! Any ideas?

Have UP issued you with a final bill? Is it correct? What does it say regarding your closing credit / debit?

Inigo_Montoya

sumodogy said:

I was with UP for a couple of months before they went bust and was transferred to EDF. EDF have confirmed to me that UP have credited over £3k to my account! Any ideas?

The following assumes you have been credited too much cash ?

this sounds like one of MSE money moral dilemma questions

personally this is what I would do :

1) I would not waste my time chasing an error in my favour  - I would just wait for them to resolve the "over credit" mistake that they have made
2) I would put money aside in a savings account so that its available  to pay the bill when the mistake is rectified 

Also despite what another poster has said I do not think its that likely they will realise a mistake has been made 

If so then eventually you will have to decide if you are happy to keep the over-credit or not - no doubt you will get people who will tell you that you would be a "bad person" / "committing fraud" if you did 

Also like another person said its still a good idea to look at your final UP bill to see if the final balance on it tallies with this over credit & if so where the mistake (if any) is on the final UP bill

MWT

Inigo_Montoya said:

Also despite what another poster has said I do not think its that likely they will realise a mistake has been made 

EDF will probably want to audit that one as they have to certify the accuracy of the amounts they are reclaiming via Ofgem to cover payment of these balances...

We've seen a number of reversed repayment errors on here over the last few years and the best advice is still 'don't spend it if you don't believe it is rightfully yours'.

This isn't a morality question it is simply that if you don't have the ability to repay it should it be reclaimed it would be unwise to gamble on it going unnoticed...

I'll leave the morality point for others.

Staffordian11

I assume the refund shows on the OP's bank statement as a credit from EDF and it was a discussion with EDF which revealed that it was in respect of a Utility Point account?

If so, I wonder if any legal eagle on here can say if there is any mileage in sending a letter to EDF along the lines of...

"I have received a bank deposit from you which you say relates to a credit from UP to which I am entitled. I believe this to be wrong. Please investigate this, and let me know if this payment was made in error. If I hear nothing from you in the next 14 days from today, I will assume that the credit is in fact correct."

Inigo_Montoya

Staffordian11 said:

I assume the refund shows on the OP's bank statement as a credit from EDF and it was a discussion with EDF which revealed that it was in respect of a Utility Point account?

It will be a credit on their EDF billing account so not directly accessible cash i.e. see 
https://www.edfenergy.com/content/welcoming-utility-point-customers

If this is the case then if it were me I would switch from fixed monthly DD to variable DD assuming EDF have that option so that the bills are paid from this "windfall" account credit  

Meanwhile the money that was previously going out of my bank account would be diverted into a savings account ready to pay the bill if the error (?) is corrected

QrizB

Inigo_Montoya said:

If this is the case then if it were me I would switch from fixed monthly DD to variable DD assuming EDF have that option so that the bills are paid from this "windfall" account credit 

EDF definitely offer variable monthly DD; that's how I pay my gas bill to them.