£400 energy discount. What if you spend less than that?

johnbhoy70

Mstty said:

@wild666

I can't see Ofgem re writing the credit of account rules for this one off grant.

Also it is a grant for cost of living so I doubt any restrictions will apply as you could take it out to pay for fuel for a car or shopping or another utility or energy such as oil.

I hope you're right!! As a 2 car household that needs them for commute it's that more than anything than i'm noticing at the moment that's crucifying us. 

constance21e

I've just seen the list of how each energy supplier is going to pay this discount.  I'm with Bulb on direct debit, who say that the £400 is going to be applied as a reduction to your direct debit, but I currently pay just a little less than £67 a month.  Is it worth while me temporarily increasing my direct debit to £67 to make sure I receive the whole amount?  I had been keeping my DD as low as I could and changing it when needed because in spite of having an electric smart meter (not for gas, even though on dual fuel with bulb) they just don't seem to be very accurate in estimating my annual usage. 

constance21e

We done't yet know for sure exactly how it will be applied, whether 6 equal discounts or a whole £400 credit at once, but logically even if you are given a discount on a bill that's lower than the discount, the bill will be negative which means you're in credit anyway. 

I really don't see the suppliers would be able to get away with not giving the equivalent of the full £400 by only discounting a reduced amount for small bills.

The latest info I have seen (via MSE email newsletter link) is suggesting that for people with Bulb paying by Direct Debit,   Bulb is doing the discount as a reduction on the direct debit amount (and not as a credit to my account), so how are they going to "reduce" more than I am paying?  

pete-20-11

constance21e said:

We done't yet know for sure exactly how it will be applied, whether 6 equal discounts or a whole £400 credit at once, but logically even if you are given a discount on a bill that's lower than the discount, the bill will be negative which means you're in credit anyway. 

I really don't see the suppliers would be able to get away with not giving the equivalent of the full £400 by only discounting a reduced amount for small bills.

The latest info I have seen (via MSE email newsletter link) is suggesting that for people with Bulb paying by Direct Debit,   Bulb is doing the discount as a reduction on the direct debit amount (and not as a credit to my account), so how are they going to "reduce" more than I am paying?  

Probably by refunding you, rather than charging you.

im with octopus who are using the same system. I decided to set my DD to £75 ready for next month. 

jsbee

We received our first payment today and they credited our account didn’t take off direct debit!