DD FOR ENERGY

QrizB

Susan1942 said:

Yes I do have storage heaters. My night time use is 75-80 %

If you use that much at night, you might be better off switching supplier to EDF. Their Economy 7 prices are generally lower at night than Octopus's are but a bit higher in the day.

You would have to phone EDF to arrange a switch, if you chose to do so.

Susan1942

Will have a look at that .

Many thanks Sue 

QrizB

I meant to post this in my previous reply but couldn't find it on my phone!

Here is EDF's rate card with details of their EPG-capped tariffs, including E7 rates for all areas. You can compare them to you offer from Octopus.

https://www.edfenergy.com/sites/default/files/government_energy_price_guarantee_prices._standard_variable_deemed_and_welcome._credit_meters.pdf

Susan1942

I have had a look at the EDF prices and seem to be lower than I expected from 1st October.  49.64 daily charge 40.88 for day units but just 15.82 for night rate.   It will not let me ask for a quote but as you said maybe I would need to call them.  I need to have a look at the rates Octopus from 1st Oct.  Currently it is 29 p day rate and 20p night rate.  As you say I have a very high night rate use. Thanks for bringing this to my attention  Sue 

Susan1942

I am trying to find out the economy 7 prices but I see a day price and a daily charge but nothing for night rate.  I will need to send them either an email or a phone call before 5 pm and get an up-to-date price for economy 7.  
Sue 

Susan1942

I looked on my account with Octopus and it is good news for me.  The new rate day time rate is 40.20  but the night rate is lower than EDF at 14.35  Previously 20.30 for night and day rate was 29.35   So for now better than I expected.  
Thanks again nor all the advice Sue 

Mommasue

Im with octopus energy. I pay £100 p/m direct debit... every month. They try to increase the payment as it doesnt fully cover me for the year.
In summer i have a small sum adding up, due to using less than 10 units of gas.
In autumn the bills rise because the lights go on earlier etc.
In winter i obviously have a noticable shortfall in my credit but i stress to Octopus that :
 When i have a positive balance it is left to accrue.
 When i have a negative balance i pay the sum immediately they have computed the readings, (usually within 15-30 mins due to wholesale price variations.)

My dd was upped to £177 in spring, i knocked it back to £100. The extra £77 goes into my bank @ 6% interest, adding to my fuel savings and the cash is ready to pay the monthly underpay. (Between £10 to £25 in autumn) roughly £55 + per month saved for winter bills accruing interest.
At no point is octopus waiting for my money.
Because i have run my account so efficiently for 10 years, they can offer no argument against me keeping my £100 dd payment. They have my £100 credit in their coffers for 25 days earning interest. I have the £77 pm credit in my bank earning interest for 20 days on average, then £55+ pm till winter bills reduce the saver pot.

I feel its a fairer way to pay my dues. They have the use of my money, and we both earn interest.

Gerry1

@Mommasue It would be so much simpler to switch to variable direct debit !

QrizB

Warning - year-old thread.

I don't think the recent replies have anything to do with Susan1942 or her original questions.

debitcardmayhem

Mommasue said:

I feel its a fairer way to pay my dues. They have the use of my money, and we both earn interest.

Yes but you forget that you have 1 months of their energy without paying them any interest