£400 energy help

shaw_field

Well yes, but if I pay my usual £150 and they give me back £66 from it, that means the price of energy has gone up, but my payment stays the same.

Surely my payment should stay the same at £150 and the £66 should be ADDED to my payment , so the higher prices are adequately paid for? 

cinders59

My daughter just rung me, 

She checked her anergy account and noticed the £66 was deposited into her energy account this morning, and after seeing a post on FB that another person had his deposited amd then checked back later and it had gone. She checked her account and the same thing has happened.
Her credit balnce went back down by £66 from this morning.

I have checked mine with EDF and my credit balance is the same as the 1st Oct with no payment.

Has this happened to anyone else, 

My daughter just got back to me OVO have refunded her £66 into her bank accont,
she would have prefered to have had it left as credit on her account.
She was originally with SSE but they sent her over to OVO didnt realise they could do that

MWT

shaw_field said:

Well yes, but if I pay my usual £150 and they give me back £66 from it, that means the price of energy has gone up, but my payment stays the same.

Surely my payment should stay the same at £150 and the £66 should be ADDED to my payment , so the higher prices are adequately paid for? 

Ultimately, yes, your payment will probably have to go up, but the intent of this first phase is to leave money in customers hands so the Government action has a material impact on the recipients.

Later the energy companies are probably going to be contacting people to increase their payments, but the 'feel good' element of this first phase will be separate to that...

Is it sensible... probably not... but it is what is is....

shaw_field

"Is it sensible... probably not... but it is what is is.."

Wow. First they borrow to fund tax cuts, then they give reduce our monthly payments knowing we'll be going into debt by not paying enough.i really do give up with this Government 

[Deleted User]

shaw_field said:

"Is it sensible... probably not... but it is what is is.."

Wow. First they borrow to fund tax cuts, then they give reduce our monthly payments knowing we'll be going into debt by not paying enough.i really do give up with this Government 

For most suppliers, they are doing a direct debit change for the £400 now (because that’s urgent) and another direct debit change in future to cover the higher unit prices.

Some started doing the unit price related DD change in September but most people haven’t had that one yet.

Dont blame the government for your supplier not reviewing the DD as fast as you would want.

shaw_field

So the new process is... 
 1. Increase payments due price increase
2. Receive £66 a month back from the supplier via government 
3. Pay that £66 back to supplier to avoid going into debt due to higher prices
Wow. Efficiency or what? 😮

[Deleted User]

Or:
1. Increase DD for higher prices 
2. Reduce usage
3. Keep the £66 for whatever else you want to spend it on.

shaw_field

Reduce consumption, yes, absolutely. 
But price rises affect bills by way more than its possible to reduce consumption, so we are back to paying them, receiving it back, so we pay it back to them. 

[Deleted User]

That entirely depends on your present consumption and acceptable lifestyle.

Plus there the people who don’t have dual fuel suppliers and would rather pay the government money towards their gas bill.

The way it’s working might not be the most efficient for your circumstances, but it’s one that will be effective in most circumstances.

Astria

shaw_field said:

Reduce consumption, yes, absolutely. 
But price rises affect bills by way more than its possible to reduce consumption, so we are back to paying them, receiving it back, so we pay it back to them. 

Your point being?

My payments for the next 6 months are effectively going to be £34/month for both gas and electric instead of £100, I can't really argue with that as it'll be cheaper than last year.