In credit with EDF

cheapchips25

Hi just wanting some advice,

So I moved end of march 22 and I'm with EDF, they do yearly bills with 6 monthly reviews never had one like this before.

I got my 6 monthly review which says I'm £600 in credit, I pay DD £227 and submit reading often and have a smart meter for electricity. 

I have tried to contact them on WhatsApp about getting a refund of the £600 credit but seem to be going in a circuls of them saying leave it to the next 6 month review blah blah, ok if it was only a few hundred but £600? 

I don't know if they are trying to scare me into letting them hold it, but I have had a look even with my DD + £66 rebate my energy bills should be covered by that alone for next 6 months surley i dont need a £600 buffer. There is only 2 of us in the home don't use much gas and my electricity I'm not using anymore than usual?

Should I keep trying to get the refund or leave it? 

Thank you! 

QrizB

Welcome to the forum.

Personally, I'd leave it. If you're paying £227 a month, £600 is less than three months' paments and you could easily get through that much extra energy during the winter.

See how it looks in the spring and (if you're still in credit) perhaps request a refund then?

cheapchips25 said:

So I moved end of march 22 and I'm with EDF ... I got my 6 monthly review which says I'm £600 in credit, I pay DD £227 and submit reading often and have a smart meter for electricity.

So you've made six monthly payments totalling £1362 and have £600 credit, which means you've spent £762 on energy during the warmer half of the year. You could easily spend £1500-£2000 over the next six months, once the weather turns colder and your heating starts to work harder. A £600 buffer will just about stretch to the top of that range.

Robin9

QrizB said:

So you've made six monthly payments totalling £1362 and have £600 credit, which means you've spent £762 on energy during the warmer half of the year. You could easily spend £1500-£2000 over the next six months, once the weather turns colder and your heating starts to work harder. A £600 buffer will just about stretch to the top of that range.

@Ch@cheapchips25

Can I say WOW to that -  over £120 a month during the summer - carry on at that rate and you will have some very big winter bills.

Time to take stock as to where your energy is being used -  lots of advice in other threads  - usual culprits are heaters, showers, fish tanks, pond pumps, american fridge freezers.

Start by reading those meters every day and get  detecting !    If tu don't already do so keep a small spreadsheet 

Keep that £600 of credit - you'll need it.

Swipe

I'm £570 in credit with EDF and have no intention of getting it refunded as I'll need it and my DD is £93 / month

diystarter7

Our son was about 800 in credit and he is paying around 500 a month now, new bill/latest and he decided to leave it in there. Should prices fall and remain lower then consider it if you are still in credit unless you need the money desperately.

Personally, ringing EDF, they answer the phone within minutes and I get to talk to a real person and often very helpful/
Phone them

newatc

I was £800 in credit with EDF which I didn't have any wish to get returned but I noticed on their last bill that the calculation of Direct Debit going forward didn't take into account the credit which was likely to mean my credit would probably grow which is ridiculous. So having pointing that out, they reduced by direct debit by over £100.
How much customer cash they must have at a time of higher interest rates must be nice little earner.

RelievedSheff

I think EDF have given you the right advice. 

From the figures you have given it does look as though you will need that £600 to use up over the winter.

Perhaps now is the right time to have a look at how you can reduce your energy consumption? You are on course to get some big bills over the colder months!

cheapchips25

Thank you all helping explain this to me a little better, I haven't been with a supplier who does these 6 months bills I find it strange not knowing where I am up to each month, so left me feeling very confused them saying £600 in credit which I couldnt get back! You are all scaring me now 🤣 I do try have everything but essentials switched off and try not put heating on, my only big usage is my dryer I run which I shouldn't! I'm on the variable tariff so always keep an eye on my meters 

cheapchips25

Robin9 said:

QrizB said:

So you've made six monthly payments totalling £1362 and have £600 credit, which means you've spent £762 on energy during the warmer half of the year. You could easily spend £1500-£2000 over the next six months, once the weather turns colder and your heating starts to work harder. A £600 buffer will just about stretch to the top of that range.

@Ch@cheapchips25

Can I say WOW to that -  over £120 a month during the summer - carry on at that rate and you will have some very big winter bills.

Time to take stock as to where your energy is being used -  lots of advice in other threads  - usual culprits are heaters, showers, fish tanks, pond pumps, american fridge freezers.

Start by reading those meters every day and get  detecting !    If tu don't already do so keep a small spreadsheet 

Keep that £600 of credit - you'll need it.

I thought my usage was good in the summer that was with electric off for a few weeks having it rewired too 🤣 no fish ponds in my house lol

Robin9

Can you give us what ACTUAL meter reads you have please ?  (or are there lots of Estimates ?)

Edit I'm also with EDF  and find the 6 month regime really unacceptable in these days.

Brie

I'm one for getting a refund of credit as I like things in my bank rather than in someone else's.  My provider isn't happy about my account but so far we're ticking along.  I have the cash available (thankfully) to catch up when I need to and then will be looking to move to a variable rather than fixed DD so I'm just paying for the energy I'm using rather than some made up figure the provider produces from thin air.