I am told I am £200 in credit but cant get a full refund

Ehi

hi guys
I am with BULB energy and live alone, my monthly bill was increased from £80 to £120 as with everyone elses

However I was told last month I was in £160 in credit and I asked for a refund and was told I was only eligible to £28. Now I am told I am in £199 credit and I know I would be told the same, as previously I was told I was not eligible for a refund

Please advice

Kind regards
E

Spies

You're building credit for the winter months, it makes it easier for people to budget otherwise the winter months would cost you twice as much!

pochase

Yes you bare in credit at the moment, but you will have much higher bills in winter. The direct debit taken is an average for your use over the year, so of course you are building up a credit, but if they pay i tout to you you are ending up with a substantial debt at the end of winter.

I addition from October a further 50% increase of energy cost is expected. This will be offset partly by the £400 energy grant.

WHat was your energy use over the last 12 months and what are your current unit rates?

dunstonh

However I was told last month I was in £160 in credit and I asked for a refund and was told I was only eligible to £28. Now I am told I am in £199 credit and I know I would be told the same, as previously I was told I was not eligible for a refund

In the summer months you use less energy.  So, you build up a credit that you will use to pay for the extra energy you use in the winter months.     Most people build up credit at this time.    You don't ask for it back otherwise you will get into arrears over winter.

Very crudely, your annual bill maybe £1200 a year and collected as £100pm.  However, your use may only be £150 over the 6 months of May to October but £1050 over November to April.         So, in those warmer months, your credit balance increases but in the colder months, it goes down quickly in the colder months.   

You need to average out the heavy use months with the low use months.

Brie

Bulb always wanted us to be 2 months in credit at the rate we used for winter months.  It's one of the reasons I switched to another provider.

Ehi

Brie said:

Bulb always wanted us to be 2 months in credit at the rate we used for winter months.  It's one of the reasons I switched to another provider.

does the new provider withold your funds ? and which do you recommend as BULB is in administration now

pochase

There is not much recommendation as only EDF and Octopus will (might) take you on as a new customer on SVT.

There is Green Energy UK who have a fixed tariff which can be considered, for the next 3 months much more expensive than what you pay now, but potentially cheaper over the total of the next 12 months.

Your other option is to go onto variable direct debit with Bulb, You will pay each month what you are owing, so you get your credit back fast, but you also have to pay big bills in winter, so you have to budget yourself.

Ehi

thanks to everyone. I wrote them again and finally got a 90% refund. 

Chrysalis

Glad you got the right result, regardless of their reasons, it is ultimately your money and they had no legal right to hold it.