Is the £400 really coming???

MWT

GibbsRule_No3. said:

Will I be able to ask for the £66 to be kept on my DD, I had a feeling some law was introduced that did not let the companies keep too much extra now and had to repay over payments.

You probably will not be able to ask them to keep it, but you can of course just increase your DD amount by £66 to get the same effect.

The Ofgem rules were going to enforce repayment of accumulated balances, but those changes didn't come into effect yet due to the market conditions, and probably a good thing for now.

facade

Just do what I am going to- transfer the £66.66 I'm not paying out as the DD from my bank account into a savings account, which I have renamed from "rainy day money" to "keep warm in 2023 money"

JoeCrystal

If they do refund the leftover aka I paid £29 per month so I get £37 or £38 back, these will go on my gas pre-paid meter. I hope this is the case so hopefully both my energy bills are paid for few months!

EssexHebridean

gj373 said:

GibbsRule_No3. said:

I think I’d rather they still take my full DD and then credit the £66 for five months, so that when the £400 has gone the energy bill DD will not have to rise massively the year after.  Especially IF the rises are expected to come back down when/If Russia is sorted out.

Just manually pay an extra £66 each month you receive the credit then. That's what I plan to do.

Except at least for customers with Utility Warehouse, you cannot do this, as their system means that money paid outside of the regular monthly DD is just hived off by them and hidden safely away from the customer's view, and you are unable to actually do anything with it... 

On the face of it, uplifting the DD by £66 a month for those 6 months seems like a straightforward option, but who'd want to bet on it being impossible to get it reduced again later? 

Evan3020

I am not sure i understand this thread but if you don't need the money for your bills then donate it to charity.

Marion12357

Im on a tight income and disabled. I’m very careful with my power useage and currently(!!) on my direct debit use less than the £67 rebate.  Will this mean I lose out on the difference between my direct debit and the £67? By the winter my bills will be higher and above the discount level. Should I raise my direct debit to the £67 now so I can get the full amount of the first payment?

Spoonie_Turtle

Marion12357 said:

Im on a tight income and disabled. I’m very careful with my power useage and currently(!!) on my direct debit use less than the £67 rebate.  Will this mean I lose out on the difference between my direct debit and the £67? By the winter my bills will be higher and above the discount level. Should I raise my direct debit to the £67 now so I can get the full amount of the first payment?

No you won't lose out.  They will refund the difference (£66/67 minus the amount your DD would have been) into your bank account.