Direct Debit Reflects July Price Change

amillionlittlepieces

Hello all,

I’m with OVO energy and at present my direct debit and useage have been pretty consistent. As of this morning, the website is suggesting I reduce my direct debit by 25%. I am using less energy but I’m also assuming the new July rate changes are being taken into account.

 Has anyone else had the July rates applied to their direct debit yet?

Thanks!

Dolor

It isn’t that simple. Any annual cost review should take into account an assessment of your future usage; anticipated wholesale costs and any debit/credit balance. In my experience, suppliers tend to have a 6 monthly review depending on the time when you first transferred to them.

My advice: do your own calculation of future costs.

amillionlittlepieces

Thank you. Yes I have my own calculation and understand what my direct debit should be from July - I was just wondering if anyone else had theirs reduced as mine changed over the course of a day (April being my usual review of Direct Debit).

wild666

Octopus have said my DD can the reduced from £69.25 to £58.61 I might lower it after my next DD goes out on 1/7/23 or I might leave it a couple of months to see if my £280 credit increases or decreases. If the credit increases by more than £5 I might decrease the DD to less than their recommended amount.