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Energy company profits

Hi guys, I live alone in a two bed terrace.  EDF have been my energy supplier gas and electricity for years. I give/gave  regular meter reading and My direct debits go up and down and sometimes stay the same. I don’t check my bills regularly. However  I’ve just had smart meter’s fitted and I guess cuz it’s new gadget to me keep checking the meter and online home hub. To my surprise I’m £680 in credit.
I pay £175 pm for both G/E was paying £135 pm I assumed the increase was due to energy prices but I’ve been pay the 175 for 4 months now. I know that sometimes I’ll be in credit and others in debt. But is this to much in credit should I ask for this back? Thanks  

Comments

  • GingerTim
    GingerTim Posts: 2,401 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    When was the last time you had an actual bill from EDF?
  • BUFF
    BUFF Posts: 2,185 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 12 August 2022 at 11:07AM
    As GingerTim, when did you last have a bill? EDF's system doesn't show your real current balance.

    what tariff are you on & if fixed when does it end?
    You may be happy to have that buffer when the rates change ....
  • Robin9
    Robin9 Posts: 12,538 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You EDF tariff may well have a 6 monthly billing cycle and that can lead to some confusion as to what your credit is.

    If you look online what you are seeing as credit is the credit/debit from your last bill plus the DD's you have made since then. It does not include the cost of energy since then !

    You can get an up to date bill by going onto Chat - they will tell you that that will also mean a revision of your DD..    It's a time of big changes anyway so face that problem if it comes.
    Never pay on an estimated bill. Always read and understand your bill
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