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Energy Payment Method Advice
Good morning all, I hope you are all keeping well?
I wanted to ask a question about energy payment methods to understand everyone's thoughts please?
I am with EDF and was previously paying 'Direct Debit Budget' (Fixed monthly DD based on assumed 12 months usage). However, like everyone else EDF want to bump this up to £300+ a month. When I sat down and thought about it, rather than build up credit and allow the companies to sit on this, why not switch to a payment method that allows me to pay for exactly what I use? Taking this into consideration I decided to switch to 'Direct Debit Whole Amount' (variable monthly DD based on usage / readings from the smart meter).
What I would like to understand is, does anyone else here pay using a similar method and have they found it to be better than a fixed monthly Direct Debit?
Thank you in advance.
PS - My unit prices have been unaffected by the above change.
I wanted to ask a question about energy payment methods to understand everyone's thoughts please?
I am with EDF and was previously paying 'Direct Debit Budget' (Fixed monthly DD based on assumed 12 months usage). However, like everyone else EDF want to bump this up to £300+ a month. When I sat down and thought about it, rather than build up credit and allow the companies to sit on this, why not switch to a payment method that allows me to pay for exactly what I use? Taking this into consideration I decided to switch to 'Direct Debit Whole Amount' (variable monthly DD based on usage / readings from the smart meter).
What I would like to understand is, does anyone else here pay using a similar method and have they found it to be better than a fixed monthly Direct Debit?
Thank you in advance.
PS - My unit prices have been unaffected by the above change.
0
Comments
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Many people do. It entirely depends on whether you prefer the infrequently changing outgoings of fixed DD or whether you prefer to budget for yourself.
Just remember, on DD whole amount your payment in winter can be four or five times your payment in summer so budget accordingly.
I personally don't want to have to find £600 per month in winter, and I know that the excess left over from small summer bills would just get spent on something else.
I know that @jj_43 at least has the opposite opinion though, and is perfectly comfortable budgeting for themselves.1
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