Should I increase my EDF monthly payment?

gazuk238

Can someone tell me if I am missing something in the logic of what EDF are wanting me to pay!

Using EDF’s own estimate on my past years usage, under pre October pricing I have a yearly spend of £1983.   Back in April I increased my monthly payment to £170, which I guessed would cover my yearly spend, which at £2040 it certainly would do.  However in August, they refunded me £363 (I didn’t ask for the refund) and said I needed to up my monthly payment to £214.  Coincidentally, when I was forced to change to EDF because I had been with Utility Point,  I was in credit by over £300.   Somehow that amount seemed to “disappear” as my first bill with EDF showed that I was just in credit and no more, even though the credit amount had been paid into my account by Utility Point.   I was a little confused at the request to increase my payments, but dutifully increased it to £214.

So now I have received an email telling me how much my estimate will be from October, which is £2480.  They also say that because the government £400 discount is being payed directly to me, I should still increase my payment by 25% anyway.   They don’t even  suggest paying the 6 months of discount payments (2 * £66 + 4 * £67) straight back into my EDF account each month, so at least reducing the amount of monthly increase from the 25% suggested.  But in any case, the £214 that I am now paying monthly will amount to £2568, which covers my new estimated yearly usage without needing to increase my payments even with the October increase.  Why would I want to pay more, only to get it refunded.   Is it really some fiendish plan by EDF to gain the interest on my overpayment!    Or is it that I am missing something, and that I should increase my payments by 25%?

I absolutely hate EDF, and the totally lack of info available on usage.   With Utility Point, and the other smaller  companies I had been with, I received a monthly bill based on monthly meter readings, so I knew exactly where I was.   I could easily see what my usage was by the various dashboards they provided, something I cant find on the EDF site.   EDF actually warn against sending in more that 1 reading in each 6 month billing period.   But as far as I can tell there is no point in moving to another supplier at the moment.

philipbin

What is your electric and gas annual usage ?

What are the latest EDF rates and standing charges ?

If you let me know I'll do some calculations.

gazuk238

Sorry for delay in  replying, EDF were maintaining their site this morning.   My info is as follows;

Estimated Gas Usage:                    9105 kWh

Estimated Electricity Usage:        3720 kWh           

Rates from Oct 22

Electricity
Unit rate: 33.76p per kWh
Standing charge: 50.67p per day

Gas
Unit rate: 10.277p per kWh
Standing charge: 28.48p per day

Thanks for looking at this for me.