Lost all confidence in my providers ability to estimate my energy usage - time to cancel DD?

CosmicYak

EssexHebridean said:

how do (or should) they get your meter readings? Do you give them to them monthly, or are you on a smart meter so they should get them automatically. If the latter the have they confirmed that they are actually getting the readings sent?  I've been having a situation with my (now former - hurrah!) energy supplier Utility warehouse where I send them the readings, and they then choose to ignore them so they can over-estimate. On occasion they also show an estimated reading as a customer one, which muddies the waters still further.... 

Hi, all readings obtained by smart meter, and the totals all tally-up fine with the monthly bill, so no excuse on their part.  They are just choosing to either ignore the data or are pulling-up old data from past years where consumption was higher before global energy crises were invented!

CosmicYak

[Deleted User] said:

CosmicYak said:

pochase said:

I have just checked and it seems Ovo might not have variable direct debit, but they are giving you 3% to 5% interest on the amount you are in credit. Personally I would happy if there debit my account with a few hundred pounds each month. No chance to get this interest anywhere else.

You also did not mention that you have reduced you energy use by 30% as written in an earlier thread. Ovo won't have a glass ball to get this information, they will calculate your direct debit from the usage figures available to them.

they are making it very difficult for users such as myself to realise the financial benefits of cutting down on our energy consumption, which is very wrong!   

There is a flaw in your logic. Your post suggests that suppliers are overcharging when this isn’t the case. I would agree that the setting of DD payments which are higher than they need to be impacts cashflow but irrespective of whether consumers pay my monthly DD; variable DD in arrears, or in cash, we will only pay for the energy that we use at the agreed tariff rate.

I disagree - if a supplier extracts far more money from customers accounts via direct debit than is necessary to pay for the energy used and then decides to sit on three months worth of excess payments then that is overcharging in my book. 

CosmicYak

Chrysalis said:

Dont cancel DD, you lose DD discount and if ever forget manual payment risk mark on your credit file, Variable DD might be right for you.

Yes, I know that I'll probably be paying 6-7% more by stopping the DD but am weighing-up whether it's worth it just to take back control of my payments.  Time to fire-up the spreadsheet!  

Unfortunately my supplier does not offer variable DD, although it is pretty variable at the moment - often upward at random times!

pochase

If you are prepared to pay the 7% more might consider the fixed tariff from Green Energy UK.

Yes you are paying more for the next two months, but they most likely will be cheaper over the 12 months thereafter and they will put you automatically onto the variable direct debit.

Troytempest

You could email the CEO of OVO - you can find his details with some googling.

I did this last year when they wanted to increase my DD despite being in credit. I explained that I was away for the winter and would remain in credit. Once they understood they backed off. Still in credit by £300 - I wonder if they will try and increase again this year.