Miraculously in credit - what now?

chubsta

Between my gas and electric I am in credit at the end of the year to the tune of £332 - what happens now? BG have reduced my DDs for the coming year by about £50 per month, does this mean they include what they owe me in their calculations for the coming year (expected future cost - credit = monthly DD payments) or do they think I will just use the £50 worth per month and the credit is not taken into account? If the latter do I have to ask for it back or will they just send it to me?
(I have re-upped my DD to the original figure as it gives me plenty of leeway should usage change or we have a very cold winter next year, and it is budgeted for looking ahead anyway)

MattMattMattUK

chubsta said:

Between my gas and electric I am in credit at the end of the year to the tune of £332

When was your last bill generated? Is the £332 immediately after your bill or is that what is just showing normally?

chubsta said:

what happens now? BG have reduced my DDs for the coming year by about £50 per month, does this mean they include what they owe me in their calculations for the coming year (expected future cost - credit = monthly DD payments) or do they think I will just use the £50 worth per month and the credit is not taken into account? If the latter do I have to ask for it back or will they just send it to me?
(I have re-upped my DD to the original figure as it gives me plenty of leeway should usage change or we have a very cold winter next year, and it is budgeted for looking ahead anyway)

If it is a post bill credit then they will have adjusted the Direct Debit to take account of the existing credit, if you want the credit refunded they would want a proportionally higher monthly Direct Debit payment. They also will not refund you the whole amount, if you are on fixed/budget Direct Debit then they will not refund a credit less than one month's Direct Debit. 

Mstty

Well done if this is a genuine reduction in usage.

However things to check are. Is the last bill recent and correct and actual readings that match your meters and not estimates?

It was a relatively mild winter this year with October-Feb usage being down for us. March might just match last year as well if this milder spell continues til the end of the month.

Best thing is to have your own spreadsheet and readings year on year and work out your yearly usage and what your DD should be.

chubsta

yes, the readings are accurate, I do keep a tight track on usage so was expecting to be well in credit, as you say it has been a mild winter so that has definitely helped, although March so far has been more expensive than November or February due to the cold snap at the beginning of the month. I do like a spreadsheet myself so do have one with nice coloured bars showing usage - definitely having a visual record helps!

The credit amount is after the bill was generated (today) - thanks for your first reply, that seems to have answered my question fully, cheers!

dunstonh

Between my gas and electric I am in credit at the end of the year to the tune of £332 - what happens now?

You wait until May before seeing if you are still in credit or not.  March and April can be cold months (sometimes the coldest in the year).   By May, you are normally at the point where you no longer need any credit.   However, March has been very mild so far.  As was most of 2022. 

Mstty

dunstonh said:

Between my gas and electric I am in credit at the end of the year to the tune of £332 - what happens now?

You wait until May before seeing if you are still in credit or not.  March and April can be cold months (sometimes the coldest in the year).   By May, you are normally at the point where you no longer need any credit.   However, March has been very mild so far.  As was most of 2022. 

March is mild now. However,  the first two weeks were the coldest possibly all winter so far judging by our usage and temperature charts. Guess that depends where you live of course.

Going back over my last 5 years bills April has always been covered by the direct debit so I would say October-March are the general winter periods where energy consistently costs more than a well set DD.

Jyana

chubsta said:

Between my gas and electric I am in credit at the end of the year to the tune of £332 - what happens now? BG have reduced my DDs for the coming year by about £50 per month, does this mean they include what they owe me in their calculations for the coming year (expected future cost - credit = monthly DD payments) or do they think I will just use the £50 worth per month and the credit is not taken into account? If the latter do I have to ask for it back or will they just send it to me?
(I have re-upped my DD to the original figure as it gives me plenty of leeway should usage change or we have a very cold winter next year, and it is budgeted for looking ahead anyway)

I usually don't have a problem claiming a refund from BG if they have just done a bill for me and I agree to leave a month or twos payment in credit with them. There's an option at the bottom of your account page to ask for it, or you can send them a Tweet and they usually sort it out within a few hours if you ask on there too.