Octopus billing - payment adequacy?
My mother moved into a care home and Octopus agreed to reduce the monthly direct debit at her flat to £10. Couple of weeks ago I got an email saying the DD would be put back up to £75, even though there is still a credit balance of around £100 on her account. I questioned this increase and Octopus have responded saying this is down to quarterly ‘payment adequacy’ which is out of their control and regulated by Ofgem. They’ll revert back to the agreed DD of £10 next month and suggest I keep an eye on the account over the forthcoming quarters.
Is it correct that this is out of Octopus’ control? Or is it something they’ve decided to introduce?
Ironically my agreed DD was similarly increased this month from an agreed £175 to the previous amount of £197 so assume this is also down to the payment adequacy. I have adjusted mine back down to £175 as my account is also in credit.
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