4x increase in monthly direct debit - is this right?

Charlongo

QrizB said:

Charlongo said:

My bill in Feb 2022 says my gas usage in the past 12 months was 10,470 kWh and electricity 1,825 kWh. 
Gas unit rate Unit rate 2854.5 kWh x 2.894p  Standing Charge 53 days x 24.480p 
Electricity Unit rate 343 kWh x 16.484p Standing Charge 52 days x 21.540p

That's great, thank you.

If you continue using that amount of energy, from April your annual bill will be around £1553, which is about £130/month.

What rate would that be on? The standard variable rate or the one aim on. That ends 30th April. 

Charlongo

Mstty said:

Charlongo said:

Thanks for your help everyone. The account is has always been in credit and the £60 does seem to have covered everything fine. 
The tariff I am on is the Greener Future April 2022 Sm1.
My bill in Feb 2022 says my gas usage in the past 12 months was 10,470 kWh and electricity 1,825 kWh. 
Gas unit rate Unit rate 2854.5 kWh x 2.894p  Standing Charge 53 days x 24.480p 
Electricity Unit rate 343 kWh x 16.484p Standing Charge 52 days x 21.540p 

Electricity 

Fixed Price May 2023 M3

Payment method

Monthly direct debit

Standing charge

44.74p

Primary unit rate

55.28p
Gas 

Fixed Price May 2023 M3

Standing charge

27.22p

Primary unit rate

18.85p

Hi Charlongo.

With your usage I hope you haven't signed up for the fixed price May 2023 M3? I think you were just showing that as their fixed rate offer?

You would be better off letting whatever deal you are on now expire and going onto the standard variable rate for which the above post has you estimated monthly price of £130/month.

Of course don't forget your council tax rebate of £150 to put towards you energy costs due to arrive in April from your local council so that helps a bit. That's if you live in council tax band A-D

Thanks. I’ll give them a ring and ask about the standard variable rate. I should get the £150, it’s not much though is it! I suppose we should be grateful for anything at the moment!

pochase

That is for the new standard variable rate from April. 

You will automatically go onto it if you do nothing.

MakingUpGround

kuepper said:

Is it certain we're getting it as one lump sum of £150? I'd thought it would be spread out - it'll affect my monthly banking reward conditions if it's a one-off payment as my DD won't count in month 1 because £150 will mean a rebate in April in my case. Only a few quid I'll lose but given what's happening generally it'd be annoying to lose any money

You'll need to check how your local council are giving theirs. Mine is as a lump sum but I think some are spreading over the monthly payments 

Ultrasonic

kuepper said:

Of course don't forget your council tax rebate of £150 to put towards you energy costs due to arrive in April from your local council so that helps a bit. That's if you live in council tax band A-D

Is it certain we're getting it as one lump sum of £150? I'd thought it would be spread out - it'll affect my monthly banking reward conditions if it's a one-off payment as my DD won't count in month 1 because £150 will mean a rebate in April in my case. Only a few quid I'll lose but given what's happening generally it'd be annoying to lose any money

Even if it is a lump sum it may not cause the issue you suggest, since I'd expect it to be an additional payment, on top of the normal payment going out of your account.

Charlongo

Ok so I’ve got the default standard variable rates from Scottish power. Is it possible to work out approx hoe much it might be each month based on my previous usage? 

GAS

Exc VAT

Standing Charge 25.92p 

Unit Rate -6.935p 

Inc VAT

Standing Charge 27.22p

Unit Rate 7.282p

Electricity
Exc VAT
Standing charge -45.31p 
Unit Rate -28.175p --- --- 

Inc VAT
Standing Charge 47.580p
Unit Rate - 29.58

Workerdrone

kuepper said:

I've been asked/told by Shell Energy to increase my DD by 140% so mine doesn't seem too bad compared to that!

Same for me. I pay £121.86. Shell wanted to set it at £250. Thing is I check my energy usage first thing ever day so I have an accurate idea of summer/winter usage figures. I worked out with the energy price rise + April rebate+October Energy loan I needed to be paying £136.16 a month to be bang on the yearly readings. Their site wouldn't let me go below £169. I rang them up and got a load of guff about them knowing my historical readings. They don't. I came to them from Pure Planet. Eventually they relented and set it to what I needed. High direct debits are a nice way of energy companies having a fat bank balance. I suppose it works for some people who aren't as obsessed with the smart meter. Stops the nasty surprises. for me I'd rather keep than in the offset account.

pochase

Workerdrone said:

kuepper said:

I've been asked/told by Shell Energy to increase my DD by 140% so mine doesn't seem too bad compared to that!

Same for me. I pay £121.86. Shell wanted to set it at £250. Thing is I check my energy usage first thing ever day so I have an accurate idea of summer/winter usage figures. I worked out with the energy price rise + April rebate+October Energy loan I needed to be paying £136.16 a month to be bang on the yearly readings. Their site wouldn't let me go below £169. I rang them up and got a load of guff about them knowing my historical readings. They don't. I came to them from Pure Planet. Eventually they relented and set it to what I needed. High direct debits are a nice way of energy companies having a fat bank balance. I suppose it works for some people who aren't as obsessed with the smart meter. Stops the nasty surprises. for me I'd rather keep than in the offset account.

The 150£ in April is paid to you, not to the energy supplier, so you will have to pay it over. So that is 25£ for the next 6 months more, or by your calculation 161.16 a month.

Not that far off from the 169 minimum.

Or it is 12.50 = 148.16 per month if you did the calculation for the next 12 months. In this case what have you calculated for the October increase when we get a new CAP?

wild666

Charlongo said:

Ok so I'm fully aware of what is going on with the energy price increases.  My fixed plan ends end of April with Scottish Power.  I currently pay £60 a month and just looked at the plans to change to end of April and they go up to £254! I knew if would go up but I thought about double, not four times the amount!  Is this right?  Should I contact Scottish Power and try to get this reduced or is there absolutely not point! I'm gonna really really struggle to pay this.  Feel really hopeless!

Take your usage for the last  months, not what they predict, but your actual usage and multiply those figures, including SC's, by 365, unless you were on a really cheap fix the new figure won't be as much as they say your DD will increase too. The SC should be around £280 before any kWh figures are added except the London area, which is around  p per day lower. 

pochase

Charlongo said:

Ok so I’ve got the default standard variable rates from Scottish power. Is it possible to work out approx hoe much it might be each month based on my previous usage? 

GAS

Exc VAT

Standing Charge 25.92p 

Unit Rate -6.935p 

Inc VAT

Standing Charge 27.22p

Unit Rate 7.282p

Electricity
Exc VAT
Standing charge -45.31p 
Unit Rate -28.175p --- --- 

Inc VAT
Standing Charge 47.580p
Unit Rate - 29.58

Yes that is possible, but you need to give us the information how much you used the past 12 months.