Octopus energy discount payment

wild666

MouldyOldDough said:

Am I correct in thinking that Octopus will automatically reduce my £85 DD by £67 every month for 6 months ?

I am already over £200 in credit with Octopus

I don't see what everyone is complaining about with regards to energy costs

Octopus reduced my DD to zero because my monthly DD is less than £66/67 but after the increase my monthly bill will be closer to £80 but I do have a credit balance of £210 and paid an additional payment of £30 yesterday, just over 50% of the DD pre October and the £55 DD was less than my monthly usage. I'm hoping to get my DD to a level where every month my DD just covers my monthly bill and I have no credit left on the account.

MouldyOldDough

LindsayT said:

MouldyOldDough said:

LindsayT said:

They are not scaring customers by giving incorrect info. You should have received an email with a PDF attachment giving the new prices for your area.

So why can they not use the correct figures on my account? 

Because they had short notice about the EPG and systems are still being updated by most companies.
Did you get the email I spoke of?

Yes I think that I did

Freebird53

MWT said:

The DD is showing in the Octopus accounts now, but the additional credit is not yet there...

I appear to be having trouble deciphering that message.

1) It states that i will recieve a £66 credit, which in my interpretation will go onto my running balance.

2) But it then says that my direct debit will  be reduced by £67.

That just doesn't make sense to me. Is it one, or the other...(I'm quite sure it won't be both!')

Why not ....'In October 2022, we will reduce your Direct Debit by £66. Then for each of the following 5 months, we will reduce your  bill by £67. This will  equal the £400 support the gov has pledged.'

peter3hg

Freebird53 said:

MWT said:

The DD is showing in the Octopus accounts now, but the additional credit is not yet there...

I appear to be having trouble deciphering that message.

1) It states that i will recieve a £66 credit, which in my interpretation will go onto my running balance.

2) But it then says that my direct debit will  be reduced by £67.

That just doesn't make sense to me. Is it one, or the other...(I'm quite sure it won't be both!')

Why not ....'In October 2022, we will reduce your Direct Debit by £66. Then for each of the following 5 months, we will reduce your  bill by £67. This will  equal the £400 support the gov has pledged.'

It is both.
The direct debit is reduced so you are paying in £67 less but £66/£67 is credited to your account from the government support.
Same amount going in, but £67 less coming from you.

MWT

Freebird53 said:

I appear to be having trouble deciphering that message.

1) It states that i will recieve a £66 credit, which in my interpretation will go onto my running balance.

2) But it then says that my direct debit will  be reduced by £67.

That just doesn't make sense to me. Is it one, or the other...(I'm quite sure it won't be both!')

Why not ....'In October 2022, we will reduce your Direct Debit by £66. Then for each of the following 5 months, we will reduce your  bill by £67. This will  equal the £400 support the gov has pledged.'

Just focus on the bit I posted...

If you are paying in advance by DD, you will be paying £67 less into your Octopus account each month for the next 6 months, the Government will be adding £400 to your account over that period in payments of £66/67 totalling the £400.

Your bill will not be reduced.

If you pay on receipt of bill then in that case, the bill will be reduced instead of the payments going into your account. 

MouldyOldDough

Will I still get a loyalty discount on my electricity bill? 
I used to get 13.15p per day discount! 
This is not mentioned in my account 

MWT

MouldyOldDough said:

Will I still get a loyalty discount on my electricity bill? 
I used to get 13.15p per day discount! 
This is not mentioned in my account 

No, the EPG is setting your rate now, but even so, Octopus have reduced it slightly from there...