Understand octopus bill

maxmillion

I have a monthly DD of £184 and the monthly charge is around £75 to £100

But the bill is always showing as a minus, which indicates to me that I'm in credit.

Is this right? I mean, my council tax starts as a positive and every payment reduces the total outstanding, as does my water bill and even my credit card. But it never goes negative unless I'm in credit 

16th March 2024 - 14th April 2024
On 16th March 2024 your previous balance was -£701.74

1.We have charged you Based on your meter readings. VAT included. Electricity 14th March 2024 - 31st March 2024 - £73.82
2. You have paid Direct Debit collection - 2nd April 2024 + £184.00

On 14th April 2024 your new balance is -£591.56

BooJewels

No, sorry, I think that's a debit balance - my credit balance doesn't have a minus before it.

Your previous balance was -£701.74 + payment of £184 (= -517.74)  - bill of - £73.82 = new debit balance of -£591.56.

ETA:  If it were a credit balance, the end result would be different - the proof is in the maths: £701.74 - £73.82 (=£627.92) + £184 = £811.92

oldernonethewiser

Sadly that is a debit balance.

My account is in credit and shows no "-" sign and also states, under the balance "why is my account in credit"

born_again

https://octoenergy-production-media.s3.amazonaws.com/documents/Annotated_Statement_rebranded.pdf

badger09

maxmillion said:

I have a monthly DD of £184 and the monthly charge is around £75 to £100

But the bill is always showing as a minus, which indicates to me that I'm in credit.

Is this right? I mean, my council tax starts as a positive and every payment reduces the total outstanding, as does my water bill and even my credit card. But it never goes negative unless I'm in credit 

16th March 2024 - 14th April 2024
On 16th March 2024 your previous balance was -£701.74

1.We have charged you Based on your meter readings. VAT included. Electricity 14th March 2024 - 31st March 2024 - £73.82
2. You have paid Direct Debit collection - 2nd April 2024 + £184.00

On 14th April 2024 your new balance is -£591.56

As said, -£591.56 is a debit balance. 

You say your monthly charge is around £75 - £100, but the £73.82 charge above is for only approx 2 weeks, suggesting monthly cost nearer £150 -£200?
Have you always submittted meter readings on time or were some of your previous bills based on estimates? 

Qyburn

Look at your account online and look at "Balance History", that should make it clear.