Do we pay Octopus/other energy provider a month after the fact?

bristolleedsfan

Alnat1 said:

MWT said:

Too many people don't take the time to understand the tariff they are asking to be put onto and then complain later if it bites...

It wouldn't really be a bite, more of a little nibble because you can ring/Tweet Octopus and switch from Tracker to SVT the same day, should prices suddenly rise.

People used to sign up to agile and tracker without knowing how tariffs worked, certainly has been instances of remaining on agile long after it became very expensive.

Spoonie_Turtle

Alnat1 said:

MWT said:

Too many people don't take the time to understand the tariff they are asking to be put onto and then complain later if it bites...

It wouldn't really be a bite, more of a little nibble because you can ring/Tweet Octopus and switch from Tracker to SVT the same day, should prices suddenly rise.

Which is fine if they're keeping an eye on the rates and know they can switch it they want - people who don't understand the tariff are less likely to be keeping an eye on it than those who do.

[Deleted User]

TheKDs said:

I am a bit worried that my bill shows as below. So I paid £142 on the 3rd of May and now owe them £144... Does this simply mean that I owed them 142 on the 12th of April but I only pay it a month later and then again I pay this bill next month? Why am I behind? I had done a set amount but ended up so much in credit, I just moved to dd as billed.

........

As of 12th May 2023 Your balance is below zero: - £144.84

Perfectly normal - Octopus now know that they need to take a variable DD of £144.84 to zeroise your account when the DD comes out (looks like early June and after which then you are into the transactions raised in June (for consumption in May).  This is exactly the same way Eon Next operates their variable DD.  With Eon Next the DD is raised some 16 days after the transactions balnce has been updated and I assume this is the same way with Octopus (both suppliers using Kraken).  The £142.58 you paid by DD on 3rd May covered the usage for the period 11th March-10th April.