Are many missing the point of the £400

Max68

Vegastare said:

the_lunatic_is_in_my_head said:

philipbin said:

For people who pay by Direct debit
.....
Bulb, E.on/E.on Next, Octopus Energy, Shell Energy, So Energy and Utility Warehouse the direct debit will be reduced automatically.

With Octopus here, our DD was £112.99, they've said from the 1st of October new DD will be £111.71 and "This is £67.00 less per property than usual, to pass on the discount of the Energy Bill Support Scheme. From October, you'll receive a monthly discount on your account of £66 (rising to £67 from December to March) from the Government."

So I'm assuming they will take £111.71 plus credit the account with the £66/67, is that correct?

If my maths is correct that's effectively around a 57% DD increase to cover around a 24% cost increase (28p to 35p), with our energy usage being constant over the year (if not a little higher in the summer) hopefully we'll end up a bit in credit to cover whatever comes next from April 23 with nothing extra coming from our pocket over the next 6 months.

I am with Octopus and the way I read it was they are reducing my DD by £67 so my normal £150 is going to be £83 for Octobers payment.  I am still leaving the surplus in my DD payments accounts.

I am ridiculously confused about this too.  I have been paying £130 to Octopus to build it up a little over the summer.  Octopus have sent me an email saying my next D/D will be £63 but I still want to pay the £130 on top of the £66/67 we are getting from the Government.  Octopus say if I want to create a buffer, I can readjust my D/D payments but what do I rise it back up to?  £130 or £196?  I only want £130 coming physically out of my bank account.

Ryan_Holden

Max68 said:

Vegastare said:

the_lunatic_is_in_my_head said:

philipbin said:

For people who pay by Direct debit
.....
Bulb, E.on/E.on Next, Octopus Energy, Shell Energy, So Energy and Utility Warehouse the direct debit will be reduced automatically.

With Octopus here, our DD was £112.99, they've said from the 1st of October new DD will be £111.71 and "This is £67.00 less per property than usual, to pass on the discount of the Energy Bill Support Scheme. From October, you'll receive a monthly discount on your account of £66 (rising to £67 from December to March) from the Government."

So I'm assuming they will take £111.71 plus credit the account with the £66/67, is that correct?

If my maths is correct that's effectively around a 57% DD increase to cover around a 24% cost increase (28p to 35p), with our energy usage being constant over the year (if not a little higher in the summer) hopefully we'll end up a bit in credit to cover whatever comes next from April 23 with nothing extra coming from our pocket over the next 6 months.

I am with Octopus and the way I read it was they are reducing my DD by £67 so my normal £150 is going to be £83 for Octobers payment.  I am still leaving the surplus in my DD payments accounts.

I am ridiculously confused about this too.  I have been paying £130 to Octopus to build it up a little over the summer.  Octopus have sent me an email saying my next D/D will be £63 but I still want to pay the £130 on top of the £66/67 we are getting from the Government.  Octopus say if I want to create a buffer, I can readjust my D/D payments but what do I rise it back up to?  £130 or £196?  I only want £130 coming physically out of my bank account.

If you pop your direct debit back to £130 then they will only take £130. The £67 is a credit to your account.

They have done the same with me. I pay £200 a month, they've modified my DD to be £133. I have modified it back to £200. 

So I will pay £200 a month in DD, which will credit to my account. AND they will credit £67 for the discount. Total credit per month of £267.

Max68

Ryan_Holden said:

Max68 said:

Vegastare said:

the_lunatic_is_in_my_head said:

philipbin said:

For people who pay by Direct debit
.....
Bulb, E.on/E.on Next, Octopus Energy, Shell Energy, So Energy and Utility Warehouse the direct debit will be reduced automatically.

With Octopus here, our DD was £112.99, they've said from the 1st of October new DD will be £111.71 and "This is £67.00 less per property than usual, to pass on the discount of the Energy Bill Support Scheme. From October, you'll receive a monthly discount on your account of £66 (rising to £67 from December to March) from the Government."

So I'm assuming they will take £111.71 plus credit the account with the £66/67, is that correct?

If my maths is correct that's effectively around a 57% DD increase to cover around a 24% cost increase (28p to 35p), with our energy usage being constant over the year (if not a little higher in the summer) hopefully we'll end up a bit in credit to cover whatever comes next from April 23 with nothing extra coming from our pocket over the next 6 months.

I am with Octopus and the way I read it was they are reducing my DD by £67 so my normal £150 is going to be £83 for Octobers payment.  I am still leaving the surplus in my DD payments accounts.

I am ridiculously confused about this too.  I have been paying £130 to Octopus to build it up a little over the summer.  Octopus have sent me an email saying my next D/D will be £63 but I still want to pay the £130 on top of the £66/67 we are getting from the Government.  Octopus say if I want to create a buffer, I can readjust my D/D payments but what do I rise it back up to?  £130 or £196?  I only want £130 coming physically out of my bank account.

If you pop your direct debit back to £130 then they will only take £130. The £67 is a credit to your account.

They have done the same with me. I pay £200 a month, they've modified my DD to be £133. I have modified it back to £200. 

So I will pay £200 a month in DD, which will credit to my account. AND they will credit £67 for the discount. Total credit per month of £267.

Great thanks, thought it might be that but the way it reads just baffled me.

Vegastare

I agree too it is baffling.....I was slightly concerned at increasing  DD to present day.....somewhere there was mention a few months back that companies should not hold customers money.

.

Ryan_Holden

Max68 said:

Ryan_Holden said:

Max68 said:

Vegastare said:

the_lunatic_is_in_my_head said:

philipbin said:

For people who pay by Direct debit
.....
Bulb, E.on/E.on Next, Octopus Energy, Shell Energy, So Energy and Utility Warehouse the direct debit will be reduced automatically.

With Octopus here, our DD was £112.99, they've said from the 1st of October new DD will be £111.71 and "This is £67.00 less per property than usual, to pass on the discount of the Energy Bill Support Scheme. From October, you'll receive a monthly discount on your account of £66 (rising to £67 from December to March) from the Government."

So I'm assuming they will take £111.71 plus credit the account with the £66/67, is that correct?

If my maths is correct that's effectively around a 57% DD increase to cover around a 24% cost increase (28p to 35p), with our energy usage being constant over the year (if not a little higher in the summer) hopefully we'll end up a bit in credit to cover whatever comes next from April 23 with nothing extra coming from our pocket over the next 6 months.

I am with Octopus and the way I read it was they are reducing my DD by £67 so my normal £150 is going to be £83 for Octobers payment.  I am still leaving the surplus in my DD payments accounts.

I am ridiculously confused about this too.  I have been paying £130 to Octopus to build it up a little over the summer.  Octopus have sent me an email saying my next D/D will be £63 but I still want to pay the £130 on top of the £66/67 we are getting from the Government.  Octopus say if I want to create a buffer, I can readjust my D/D payments but what do I rise it back up to?  £130 or £196?  I only want £130 coming physically out of my bank account.

If you pop your direct debit back to £130 then they will only take £130. The £67 is a credit to your account.

They have done the same with me. I pay £200 a month, they've modified my DD to be £133. I have modified it back to £200. 

So I will pay £200 a month in DD, which will credit to my account. AND they will credit £67 for the discount. Total credit per month of £267.

Great thanks, thought it might be that but the way it reads just baffled me.

One thing they've all been good at recently is not being clear. Glad this has helped you.

Max68

Ryan, indeed.  Like the Octopus "Crystal Ball" It only used the government payments as a guide on your payments over the next few months.  Yes, you could drag it up and down, but it wasn't clear if it was with government payments or not. They would have been better leaving D/D's as they have been and adding another column showing what your payments would be with your D/D plus the rebate and leaving it to you to lower your D/D rather than having to reset it.  Can see a lot of people not even looking and then being caught short a month down the line.

mickstatham

I’ve just changed my DD with bulb to a variable DD as they were over estimating my usage. I keep a spreadsheet of my usage and have it going back four years, and compared to last year we’ve actually used 30% less gas and electricity which they haven’t taken into account or rather won’t take into account. After I changed to a variable DD I got an email from them saying I won’t receive the £66 a month credit from the government and the only way to get this was to continue to pay by direct debit. Does this sound correct? 

Also I’ve noticed Martin has posted a chart with information about how the different energy companies are paying back this money. Under the column that says ‘standard credit’ It says that the amount will be credited automatically to your energy account. Does paying by ‘standard credit’ mean paying when the monthly bill is generated?

Slinky

mickstatham said:

Also I’ve noticed Martin has posted a chart with information about how the different energy companies are paying back this money. Under the column that says ‘standard credit’ It says that the amount will be credited automatically to your energy account. Does paying by ‘standard credit’ mean paying when the monthly bill is generated?

Where is this chart please? I'm confused by EDF who say I will receive the money into my bank account and are suggesting upping the DD to cover this.

philipbin

mickstatham said:

I’ve just changed my DD with bulb to a variable DD as they were over estimating my usage. I keep a spreadsheet of my usage and have it going back four years, and compared to last year we’ve actually used 30% less gas and electricity which they haven’t taken into account or rather won’t take into account. After I changed to a variable DD I got an email from them saying I won’t receive the £66 a month credit from the government and the only way to get this was to continue to pay by direct debit. Does this sound correct? 

Also I’ve noticed Martin has posted a chart with information about how the different energy companies are paying back this money. Under the column that says ‘standard credit’ It says that the amount will be credited automatically to your energy account. Does paying by ‘standard credit’ mean paying when the monthly bill is generated?

Variable Direct Debit means You pay for the energy that you have used in the period. Your total bill amount will be debited directly.

Standard Credit means a Payment Method whereby a Domestic Customer pays the licensee directly for Charges for Supply Activities after receiving a Bill, such payment not drawn automatically from a Domestic Customer's bank account by reason of a direct debit authorisation or otherwise.

Martins Chart

https://www.moneysavingexpert.com/news/2022/08/how-energy-suppliers-will-pay-the-p400-cost-of-living-support-pa/

mickstatham

Slinky said:

mickstatham said:

Also I’ve noticed Martin has posted a chart with information about how the different energy companies are paying back this money. Under the column that says ‘standard credit’ It says that the amount will be credited automatically to your energy account. Does paying by ‘standard credit’ mean paying when the monthly bill is generated?

Where is this chart please? I'm confused by EDF who say I will receive the money into my bank account and are suggesting upping the DD to cover this.

Hi, it’s here https://www.moneysavingexpert.com/news/2022/08/how-energy-suppliers-will-pay-the-p400-cost-of-living-support-pa/. 

I’ve just spoken to them again. They had to put my DD back to what it was (£95) but can’t stop the refund of £310 credit (!!??) so I’ll have to pay that back in when I get it. THEN I’ll probably be contacted again when they decide to try to increase it again after November. They still maintained that I won’t receive the support payment without having a DD in place. What a debacle.