EDF - monthly bill half of what they suggested.

Abella12

I have just moved house and have been on the variable rate which I decided to do for the time being. I spoke to EDF today , said I wanted monthly paper bills which they were fine about. Their best year fixed until 2024 was £2600. I am staying on the variable rate ( yes I know it's variable and things will change in October). I gave them correct readings today and gas and electric was total of £101 for my first month here but if I set up a DD on the variable rate they wanted a monthly payment of £220 ? Why do people not request monthly paper bills to avoid overpaying these companies which is clearly a ploy they have adopted according to new reports. I live in a large bungalow with my partner and son and want to pay for what we use not a figure they pluck out the air.

Gunner276

It's nearly summer so your energy usage will be at it's lowest. By winter you will be using a lot more energy to heat your home.

The £220 will be the same every month, paying for your actual monthly usage will vary a lot. A lot of people, me included, prefer to know how much I will be paying each month!

Abella12

Yes understood but this is also a increase in cashflow exercise by the companies. I would rather put back money in an account for an increase rather than overpaying these companies. In 3 weeks time according to the news we will see if everyone paying by DD are being overcharged. I have a feeling I know the answer.

Gerry1

It sounds like you want to be on Variable Monthly Direct Debit, which EDF call 'Direct Debit Whole Amount (Monthly)'.  You'll have lower bills in summer but higher bills in winter, especially after the likely increase in October.

It has nothing to do with paper bills as such, if you were on Fixed Monthly Direct Debit then changing to paper bills won't in itself make any difference.

Abella12

Oh ok but who fixes the DD figure as I have been in this house for 1 month. If EDF fix the figure is it just going to inflated ?  the reason I went for paper bills is they said I can give them readings prior and pay the correct amount per month. If I don't go paper then doesn't the DD figure become out of your control. 

[Deleted User]

Hi,

read THIS, might help you understand.

Phones4Chris

@Abella12 you don't need to have a paper bill either if you are happy with online.

Mstty

Hi Abella,

Similar ish bill per month ours is £177.70.

I know we will use approx £80-90 a month for the next 5 months so yes we could also switch to variable monthly or quarterly direct debit but to be honest we don't want the £300-400 bills landing each monthe over Christmas and New Year when energy usage is at its highest.

We could put the money elsewhere for 5 months but this is how we have paid our bills for the past 25 years.

It's certainly not a rip off or energy companies making loads of money and you should.kniw how much energy you use each year to keep on top of it so no figure should be un-checked or plucked out the air.

Just check it tallies up with your historical usage and the rates you are charge per kWh and standing charges. If it tallies either stick with fixed DD or change to variable DD,👍 whatever suits you best

 

pochase

What was the rate offered to you as a fix for 2 years?

You are complaining that they want £2560 as a direct debit order, but that £2600 for a fixed rate is to expensive.

I am quite sure that the fix is much more expensive than SVT, but a 24months fix is something at least to consider and compare.

Abella12

No pochase you have not read my post correctly. £2600 until April 2024 , no I said they want £220 as a direct debit when my bill this month is £101. The £2600 is for the year fixed until April 2024.

Abella12

Matty, no I don't know the energy we use as we have been in the house 1 month and is larger hence I cannot judge it in one month, that's why I will monitor usage for 3 months so I can tell the energy company what the DD needs to be not the other way around. As I am sure you will have seen the government have given all Energy companies 3 weeks to respond to the overcharging for DD"s but take your point about knowing what you will be paying.