Standing Order means lower bills.

QrizB

I think Bulb, like Octopus, don't charge extra for non-DD payment methods.

[Deleted User]

QrizB said:

I think Bulb, like Octopus, don't charge extra for non-DD payment methods.

Perhaps they should given the ever increasing taxpayer bill for keeping this company alive.

maisie_cat

I would have thought that with the number of threads explaining how energy bills work that there wouldn't be so many people who confuse payments on account with the cost of consumption and actual tariff.
Of course the last few months are cheaper, most people haven't had their heating on since March/April but when the winter comes and that consumption spikes the "pay as you consume" group will have to stump up.
I am perfectly capable of managing a budget but I personally prefer to pay the same amount monthly at approx 1/12th annual bill.

molerat

It doesn't help when press articles stated "bills may rise before the increased energy cap comes into force" when it really meant that some companies were increasing DDs ahead of the rise.

[Deleted User]

Perhaps it is time to put this thread to bed. I am sure that the OP releases that his/her lightbulb moment is not quite what it seems.

I am always amazed at the number of my generation that stand outside the PO each week to collect their pension in cash. However, if that is what they need to do to manage their income and expenditure then it would be wrong to criticise them for doing it. Equally, if paying by standing order gives someone a feeling of greater control then so be it.

EssexHebridean

PLEASE can either a board guide or @MSE_ForumTeam5 or someone similar look at changing the subject line on this thread - or at the least adding a sizeable "headline" above the post stating that it's a misleading title! Goodness knows there is enough confusion about this one already! 

pochase

QrizB said:

I think Bulb, like Octopus, don't charge extra for non-DD payment methods.

Yes, you are correct. At least they quote the same rate for all payment forms except prepaid.

They don't need to worry about higher administration cost, we will all be paying for it soon.

jimjames

Alnat1 said:

Most energy suppliers discount the rates for people who pay by DD, usually by around 5-7%, because it's the method that requires the least admin. Fixed or Variable DD both get the discounted rate.

Paying by standing order, cash or cheque is likely to result in your rates increasing and higher bills. Before yelling it's cheaper, check the rates you are being charged haven't gone up.

And 5-7% of bills that could average £3600 is a very significant amount. It wouldn't make as much different if your bill was £800 as it could have been last year but £250 saving with DD is not to be dismissed. 

Thread title wouldn't be quite the same if it said "Pay £250 more by switching to Standing Order"

Dolor said:

However, if that is what they need to do to manage their income and expenditure then it would be wrong to criticise them for doing it. Equally, if paying by standing order gives someone a feeling of greater control then so be it.

That's true but not if they actually believe they are saving money when they aren't doing anything of the sort

Chrysalis

OP there is a difference between what a bill and payment is, sorry I think you meant lower payments not lower bills.

DD usually has a discount, so DD payments usually mean lower bills.

lsur02

You pay for what you use not the excessive increase companies take under DD. You cannot reduce the DD amount below the minimum Bulb wants which is twice what I use.With  SO you can set it to just above what is used and no more.

You change the amount every few weeks as needed - you should know the actual usage anyway if you can read the meter. You are in control of the payments ie the monthly energy bill.

If this idea doesn't fit everyone's circumstances then fine, just trust the energy supplier. I don't.