Is it bad for this forum to recommend variable DD payments

Northern_Wanderer

pochase said:

Nice table.

Just one very small remark. You have the same standing charge for months with 28, 30 and 31 day. I know we are talking here about a difference of a little over £3 over the time period.

The standing charge is calculated 365 days cost divided by 12 to give a monthly figure. I am picky but not going to sit and calculate the monthly days SC I'm afraid. There is no difference in the annual cost to me.

[Deleted User]

Northern_Wanderer said:

Mstty said:

How about you out the extra gas payment over your actual usage into a separate savings account or premium bonds if you don't trust an energy company with your money.

Mind you it is all protected and when Symbio went bust for us our credit was shifted over to EON Next fairly swiftly.

Yes I think that's what I'll do, save the extra each month. I know it's protected, I just don't like the fact that we are ALL paying for the failures in our bills now, and the crisis is not over yet.....so how much is potentially going to get whacked onto us in future? If they didn't have all the credits when they folded, the costs in our bills would be less now. I didn't enjoy the waiting or the hassle getting my money back so rather not have to do that again. Anyway, I'm glad I've worked it out, I can be prepared and know that I will be ok next winter, be warm and fed too.

This has been my approach too for next winter.  So far £650 (more to follow this summer) ring-fenced in premium bonds that I shall call on next winter when needed.

Re the variable DD, my scheduled payment in March, now calculated since Eon Next generated my March bill, will take me back to a nil balance.  More funds will be added to premium bonds just before my next pension payments go in at the end of this month.  Then, when I get to the first payment after Oct 1st, I will cash-in sufficient premium bonds to ease the strain on the current account used to pay the DD.

Paying variable DD only works for me because I am fortunate in being able to budget like this.

jimexbox

DerwentMailman said:

This has been my approach too for next winter.  So far £650 (more to follow this summer) ring-fenced in premium bonds that I shall call on next winter when needed.

Re the variable DD, my scheduled payment in March, now calculated since Eon Next generated my March bill, will take me back to a nil balance.  More funds will be added to premium bonds just before my next pension payments go in at the end of this month.  Then, when I get to the first payment after Oct 1st, I will cash-in sufficient premium bonds to ease the strain on the current account used to pay the DD.

Paying variable DD only works for me because I am fortunate in being able to budget like this.

I've ring-fenced 'funds' in my normal account for decades.

Holiday, Christmas, insurances, car, birthdays. Now energy.

Any surplus cash before payday gets distributed. My account stops paying interest after a certain level, so the funds are moved to either premium bonds or my savings account and I start again, knowing the money is there if required. It's a good way to save long term.

Northern_Wanderer

jimexbox said:

 My account stops paying interest after a certain level, so the funds are moved to either premium bonds or my savings account and I start again, knowing the money is there if required. It's a good way to save long term.

Me too, as soon as my account goes over the threshold for interest, I clear the excess out to my savings account. I might open the Chase account as it has savings pots, so I could have one dedicated for energy.

jadey2024

My DD has gone up from £69 to £87 (I've set to round to £90 from 1st April)  I am on variable tarrif, energyPlanAssist with EonNext. I would have fixed to v11 but they never sent me a letter and wasn't checking my account then to see it. Normally in mid spring my DD gets lower as use less leccy obviously. And I'm refunded any credit in Aug back to 0. This will not work for me now. I am on a low wage, a single mum in an all electric property on E7. But a year ago on the eco gov grant scheme they removed most storage heaters and replaced with a mix of panel heaters in bedrooms now and storage and during this winter we only used one of the smart storage heaters in living room. My usage this winter is less as we normally had all storages on all winter previously but the panel heaters are costly so naturally not been on much as storages were when in bedrooms. It will now cost 32p to use panel heater for one hour on peak, something we avoiding so I'm staying up until 12.30am to turn my daughters panel on for off peak rate for an hour (brings her room up to 15 degree) which is 17p now for an hour from 13p (Obviously be more costly next winter). Annoyingly I can't set the bloody panel heaters to come on only at off peak for hr or 2 or attach a timer plug as it wired directly in to socket so having to stay up. And with my daughter at times, when she goes bed I'd need to use on peak leccy to put panel on when really cold in winter. (Her room gets as low as 10 degrees, usually 12 despite fully insulated now and new windows put in last few years) so nothing a few Jumpers can't fix. Prone to mould too. So it will be very costly next winter. 

Normally I'd reduce my DD in summer but really it won't work for me now so I'm keeping it set at my winter price as I want to build as much as possible in my leccy pot. They would likely refund me credit in Aug but I will just put it back in from November. Otherwise if I didn't set aside extra I'd not be able to put my daughters panel heater on before bed each evening at all. I just suffer in cold. My room usually a degree or 2 warmer anyway. The £150 ct I'm keeping by and added another £80 to it to go towards my winter pot.

I'm starting to think E10 might be better for me since I now have a mix of panels/2 storages (only use one storage though) I not sure if eon does E10 if anyone knows? And if so is it easy to switch to it? I'm on old meters still but know it involve new meter. As with E10 my daughter panel can go on before bed using off peak with E10 times. Plus it hard to use all leccy in night. I set washing machine to come on in night but charging phones done in evening as don't like idea of charging when asleep. 

QrizB

Hi Jadey, I remember your previous threads about your new storage heaters (good) and panel heaters (not so good). Glad to know you got through the winter with them.

jadey2024 said:

Annoyingly I can't set the bloody panel heaters to come on only at off peak for hr or 2 or attach a timer plug as it wired directly in to socket so having to stay up.

You might be able to have a time switch fitted, the sort that is normally used with an immersion heater (or even a smart switch you can programme using your phone) but it will need someone who knows what they're doing. Do you know an electrician or similar who could do this for you?

Northern_Wanderer

jadey2024 said:

My DD has gone up from £69 to £87 (I've set to round to £90 from 1st April) 

I'm not convinced that this will be enough to pay for your usage on electric heating. Did you do the sums based on your annual usage from last year? I feel everyone will have to do the sums now to perpare for the coming winter. It's £188 for me and I have gas heating which is cheaper than electric heating. The reality of our energy costs is hard to take so it will be good to prepare now.