Low Electricity Energy user - trying to understand how the energy rebate payments will work for me

HopingForClarity

as above i am currently a very low electricity user - i use approx 3kwh per day  - so my monthly bill is a consistent £44 on the new rate since October 1st 

my supplier for electricity is EonNext and for Gas is British gas ( ie - not both from same supplier )  - paid by direct debit 

as i understand it  - under the scheme - Eon will apply a £67 credit to my account each month from October onwards 

however  - if i understand it correctly - if this would result in a credit then my electricity account balance will not go positive - but be reduced to zero 

so it seems like i will be missing out on around (67-44)*6=£136 over this winter 

is this correct?

if so - it seems a little unfair as some customers are instead having £67 per month sent direct to their bank accounts via direct debit 

i am unable to work due to health issue i am fighting at the moment so with all other costs escalating another £136 is not insignificant to me 

Robbie64

You would be better asking this on the Energy board, this one is for benefits and tax credits queries

https://forums.moneysavingexpert.com/categories/energy

Spoonie_Turtle

HopingForClarity said:

as i understand it  - under the scheme - Eon will apply a £67 credit to my account each month from October onwards 

however  - if i understand it correctly - if this would result in a credit then my electricity account balance will not go positive - but be reduced to zero 

so it seems like i will be missing out on around (67-44)*6=£136 over this winter 

is this correct?

if so - it seems a little unfair as some customers are instead having £67 per month sent direct to their bank accounts via direct debit 

Not quite.  You're missing the fact that you will get the full £66/67 credited to your account each month, which will leave your account in credit if you don't use the full £66/67's worth of electricity. 

You can ask to withdraw the extra credit (although I don't know how helpful Eon tend to be in that respect, others over on the energy board will be able to advise further).

whizzywoo

HopingForClarity said:

as above i am currently a very low electricity user - i use approx 3kwh per day  - so my monthly bill is a consistent £44 on the new rate since October 1st 

my supplier for electricity is EonNext and for Gas is British gas ( ie - not both from same supplier )  - paid by direct debit 

as i understand it  - under the scheme - Eon will apply a £67 credit to my account each month from October onwards 

however  - if i understand it correctly - if this would result in a credit then my electricity account balance will not go positive - but be reduced to zero 

so it seems like i will be missing out on around (67-44)*6=£136 over this winter 

is this correct?

if so - it seems a little unfair as some customers are instead having £67 per month sent direct to their bank accounts via direct debit 

i am unable to work due to health issue i am fighting at the moment so with all other costs escalating another £136 is not insignificant to me 

You won't miss out in the long run.  Each of the 4 months the £66/68 less your usage will accumulate.  At the end of the 6 month period you should have approximately £140 in credit on your account, ie your supplier will owe you that amount of money.

I assume you will be able to ask for that money to be refunded to your bank account.  Alternatively it will be used to pay your ongoing electricity bills after the 6 month period ends.  Therefore your next 3 plus months will not cost you anything.

4justice2

I'm with E-on too and my bill is less than the £67 government payment, the balance is left on the account as a credit. So you won't lose out.

HopingForClarity

thanks for the replies - and clarifications  - i had thought i read that the balance would not go positive - but if others with eon have already had that happen -  its fully clear 

ps i did try to see if there was an energy board - must have missed it 

thank for all the input 

MovingForwards

I'm with a different supplier, my gas AND electric don't amount to £67pm but it's been applied as a credit and sitting on my account ready for when I want to "use it".

I've reported the thread asking the team to move it to the utilities section, which will probably be Monday as they work office hours.

poppy12345

I'm with octopus for both and the £66 was added to my account last week. I also pay by DD. I'm in credit by a few hundred pounds at the moment so the rebate on my account will just increase my balance.

NedS

My electricity supplier (OVO) credited £66 directly to my bank account this month. I would have preferred they credited to my electricity account, as they are currently giving me 4% on the credit balance of my account, which is significantly more than my bank is paying me. I had built up a credit balance by overpaying over the last 6 months (spring and summer) in anticipation of further large price rises this October, which the government cap has now prevented.

Spoonie_Turtle

NedS said:

My electricity supplier (OVO) credited £66 directly to my bank account this month. I would have preferred they credited to my electricity account, as they are currently giving me 4% on the credit balance of my account, which is significantly more than my bank is paying me. I had built up a credit balance by overpaying over the last 6 months (spring and summer) in anticipation of further large price rises this October, which the government cap has now prevented.

If they hadn't credited it to your account they'd have reduced your Direct Debit to have the same overall effect anyway.  (Which I'm sure you know, but just pointing out for the benefit of those on this board who don't.)

Spoonie_Turtle

Whoops, random double post, sorry.