Octopus have adjusted my direct debit

millie

They also reduced mine from £150 to £58. I am in credit for £700 but I changed back to £150

BooJewels

badmemory said:

So from what has been posted here the energy companies are rejigging the future DDs without taking into account the increase in prices that they obviously know about.  And I was criticised for questioning their competence.  I suppose the question is, is this better than BGs we are still working out what your DD should be?

Only Octopus know the answer to this, but my own personal numbers suggest that the DD amount that they offered me yesterday was already at post-October prices - as I was looking to increase it from the October payment, as the September payment had just gone to them. 

If I take my last 12 months usage and work out the total cost at the post-October prices, knock off my current credit and divide by 12, it comes out within a few pennies of what they suggested to me.  If I work out the same kWh usage at the current April to September prices and do the same calculation, it would give rise to a DD £25 less than they suggested.  Hence I was happy with this figure as I am confident that it will cover my future usage and the Government credits will increase my credit on the account (which will cover the 10% contingency I write into my projection calcs anyway).  If they increase my DD in April, I'll actually be paying too much - but I'd rather try and get it back down than accrue a debit.

bristolleedsfan

BooJewels said:

badmemory said:

So from what has been posted here the energy companies are rejigging the future DDs without taking into account the increase in prices that they obviously know about.  And I was criticised for questioning their competence.  I suppose the question is, is this better than BGs we are still working out what your DD should be?

Only Octopus know the answer to this, but my own personal numbers suggest that the DD amount that they offered me yesterday was already at post-October prices - as I was looking to increase it from the October payment, as the September payment had just gone to them. 

Flexible Octopus customers received email within last couple of weeks with new unit rates, I have good reason to believe that email stated that Octopus were not increasing direct debits at that time, subsequent weeks they would be sending out payment increase recommendation emails.

oliverbrown

Yes, everyone's direct debit was dropped by £67. If it appears that it took existing credit into account, it's purely coincidental.

BooJewels

bristolleedsfan said:

BooJewels said:

badmemory said:

So from what has been posted here the energy companies are rejigging the future DDs without taking into account the increase in prices that they obviously know about.  And I was criticised for questioning their competence.  I suppose the question is, is this better than BGs we are still working out what your DD should be?

Only Octopus know the answer to this, but my own personal numbers suggest that the DD amount that they offered me yesterday was already at post-October prices - as I was looking to increase it from the October payment, as the September payment had just gone to them. 

Flexible Octopus customers received email within last couple of weeks with new unit rates, I have good reason to believe that email stated that Octopus were not increasing direct debits at that time, subsequent weeks they would be sending out payment increase recommendation emails.

What mine said was "We constantly review your payments are set to a sensible level – we’ll send you a recommendation over the coming weeks should they need adjustment due to the new prices."

That suggests to me that they're not automatically increasing all DDs from October (they've probably got enough to keep them busy just now), but when looking to increase my own DD amount yesterday, from the October payment forwards - it certainly appears that their calculation was based on new prices.    My annual usage at current prices is just over £300 less than the same kWh post-October (just over £25/month) - so enough to clearly pick up in the calculations.

bristolleedsfan

BooJewels said:

bristolleedsfan said:

BooJewels said:

badmemory said:

So from what has been posted here the energy companies are rejigging the future DDs without taking into account the increase in prices that they obviously know about.  And I was criticised for questioning their competence.  I suppose the question is, is this better than BGs we are still working out what your DD should be?

Only Octopus know the answer to this, but my own personal numbers suggest that the DD amount that they offered me yesterday was already at post-October prices - as I was looking to increase it from the October payment, as the September payment had just gone to them. 

Flexible Octopus customers received email within last couple of weeks with new unit rates, I have good reason to believe that email stated that Octopus were not increasing direct debits at that time, subsequent weeks they would be sending out payment increase recommendation emails.

What mine said was "We constantly review your payments are set to a sensible level – we’ll send you a recommendation over the coming weeks should they need adjustment due to the new prices."

That suggests to me that they're not automatically increasing all DDs from October (they've probably got enough to keep them busy just now), but when looking to increase my own DD amount yesterday, from the October payment forwards - it certainly appears that their calculation was based on new prices.    My annual usage at current prices is just over £300 less than the same kWh post-October (just over £25/month) - so enough to clearly pick up in the calculations.

No Customers had direct debit increased within that email.

Some customers might get DD recommendation increase over the coming weeks

Some customers might have been already paying more than they need pre October 1st increase rates and might not get DD recommendation increase over the coming weeks

Some customers increase own DD without prompting.

Recommended monthly payment shown within online dashboard is often different to monthly DD suggested when they email out.

You said  "Only Octopus know the answer to this, but  my own personal numbers suggest......................."

badmemory

BooJewels said:

What mine said was "We constantly review your payments are set to a sensible level – we’ll send you a recommendation over the coming weeks should they need adjustment due to the new prices."

Now that makes a lot more sense.

[Deleted User]

BooJewels said:

bristolleedsfan said:

BooJewels said:

badmemory said:

So from what has been posted here the energy companies are rejigging the future DDs without taking into account the increase in prices that they obviously know about.  And I was criticised for questioning their competence.  I suppose the question is, is this better than BGs we are still working out what your DD should be?

Only Octopus know the answer to this, but my own personal numbers suggest that the DD amount that they offered me yesterday was already at post-October prices - as I was looking to increase it from the October payment, as the September payment had just gone to them. 

Flexible Octopus customers received email within last couple of weeks with new unit rates, I have good reason to believe that email stated that Octopus were not increasing direct debits at that time, subsequent weeks they would be sending out payment increase recommendation emails.

What mine said was "We constantly review your payments are set to a sensible level – we’ll send you a recommendation over the coming weeks should they need adjustment due to the new prices."

That suggests to me that they're not automatically increasing all DDs from October (they've probably got enough to keep them busy just now), but when looking to increase my own DD amount yesterday, from the October payment forwards - it certainly appears that their calculation was based on new prices.    My annual usage at current prices is just over £300 less than the same kWh post-October (just over £25/month) - so enough to clearly pick up in the calculations.

A number of customers - including myself - have not received any communication from Octopus as we are on tracker or time-of-use tariffs. It is not a big deal but it can lead to some confusion when the only notification is payment holiday in My Account. Senior citizens tend not to use Facebook or Twitter.

BooJewels

bristolleedsfan said:

BooJewels said:

bristolleedsfan said:

BooJewels said:

badmemory said:

So from what has been posted here the energy companies are rejigging the future DDs without taking into account the increase in prices that they obviously know about.  And I was criticised for questioning their competence.  I suppose the question is, is this better than BGs we are still working out what your DD should be?

Only Octopus know the answer to this, but my own personal numbers suggest that the DD amount that they offered me yesterday was already at post-October prices - as I was looking to increase it from the October payment, as the September payment had just gone to them. 

Flexible Octopus customers received email within last couple of weeks with new unit rates, I have good reason to believe that email stated that Octopus were not increasing direct debits at that time, subsequent weeks they would be sending out payment increase recommendation emails.

What mine said was "We constantly review your payments are set to a sensible level – we’ll send you a recommendation over the coming weeks should they need adjustment due to the new prices."

That suggests to me that they're not automatically increasing all DDs from October (they've probably got enough to keep them busy just now), but when looking to increase my own DD amount yesterday, from the October payment forwards - it certainly appears that their calculation was based on new prices.    My annual usage at current prices is just over £300 less than the same kWh post-October (just over £25/month) - so enough to clearly pick up in the calculations.

No Customers had direct debit increased within that email.

Some customers might get DD recommendation increase over the coming weeks

Some customers might have been already paying more than they need pre October 1st increase rates and might not get DD recommendation increase over the coming weeks

Some customers increase own DD without prompting.

Recommended monthly payment shown within online dashboard is often different to monthly DD suggested when they email out.

You said  "Only Octopus know the answer to this, but  my own personal numbers suggest......................."

I'm sorry, but I've no idea of what point you're trying to make - I was agreeing with you and posting the actual wording of the email, as you didn't appear to have actually seen one: "I have good reason to believe . . ."    

When I increased my DD, it appeared to take account of new prices, which I posted in reply to someone asking whether they were considering new prices when reducing the existing DD by £67.  Nothing in Octopus's display materials actually mentioned the October prices, it was my own deduction - because I own a calculator and a pencil.  I made that pretty clear.

BooJewels

[Deleted User] said:

BooJewels said:

bristolleedsfan said:

BooJewels said:

badmemory said:

So from what has been posted here the energy companies are rejigging the future DDs without taking into account the increase in prices that they obviously know about.  And I was criticised for questioning their competence.  I suppose the question is, is this better than BGs we are still working out what your DD should be?

Only Octopus know the answer to this, but my own personal numbers suggest that the DD amount that they offered me yesterday was already at post-October prices - as I was looking to increase it from the October payment, as the September payment had just gone to them. 

Flexible Octopus customers received email within last couple of weeks with new unit rates, I have good reason to believe that email stated that Octopus were not increasing direct debits at that time, subsequent weeks they would be sending out payment increase recommendation emails.

What mine said was "We constantly review your payments are set to a sensible level – we’ll send you a recommendation over the coming weeks should they need adjustment due to the new prices."

That suggests to me that they're not automatically increasing all DDs from October (they've probably got enough to keep them busy just now), but when looking to increase my own DD amount yesterday, from the October payment forwards - it certainly appears that their calculation was based on new prices.    My annual usage at current prices is just over £300 less than the same kWh post-October (just over £25/month) - so enough to clearly pick up in the calculations.

A number of customers - including myself - have not received any communication from Octopus as we are tracker or time-of-use tariffs. It is not a big deal but it can lead to some confusion when the only notification is payment holiday in My Account. Senior citizens tend not to use Facebook or Twitter.

Indeed, I've been following that thread too - I'm on the SVT and was fortunately one of the first to get the email.  Likewise, if stuff has been posted on social media, I've missed it too, as I just wouldn't think to look.