Octopus playing the increase DD game.

born_again

So had a email from them last week stating that my £150 a month DD would be increasing to £ 166.01.

We continually review your account balance and monthly payments to help keep your account on track, and it looks like your current payments might not be enough to keep your account healthy, so we’re suggesting an increase to your monthly payments.

Looking back through my account history. After DD is added.
No estimates, all either smart or user readings, so billing is 100% accurate.

Oct 8th £479.19
Nov 8th £490.63
Dec 8th £478.11
Jan 8th £451.74
Feb 8th £398.69

OK last month bill's was £50 more than DD, but with a week of sub zero temps. Even taking that into account, so far since November I have only dropped £91.94 in credit balance.🤷‍♀️

I can not see my usage increasing to a point where the £398.69 credit is used up in the next 3 to 4 months. Before usage is well below the DD credit each month

I thought more of Octopus with their better systems & customer care 🤷‍♀️Seems like they are slipping back to meet the rest in the monthly DD's game.
But at least unlike others. It does not reject a change to DD. 😍
Back to £150 a month it has gone.  

EssexHebridean

Just adjust it back down again in the app? It's probably because they are conscious that prices are going to increase again, but assuming you are right in your assessment of your use, I'd agree that in your case it probably isn't needed. 

For clarity though - at a time when prices generally have been, and are increasing (and the April increase is now looking to be higher than originally forecast too) they are absolutely correct to be thinking about increasing people's DDs in line with that where people are on variable tariffs.  It's not "a game" - it a supplier being responsible. 

born_again

Strange thig is last year as I had only joined in Aug 23 I was in a debit balance over the winder period. Yet at no point did they mention that a increase was required. 

EssexHebridean

born_again said:

Strange thig is last year as I had only joined in Aug 23 I was in a debit balance over the winder period. Yet at no point did they mention that a increase was required. 

Prices weren't behaving in quite the same way last year. 

Newbie_John

Ask for variable direct debit, then you will skip all this nonesense - you'll pay for your actual usage each time.

born_again

Newbie_John said:

Ask for variable direct debit, then you will skip all this nonesense - you'll pay for your actual usage each time.

Not suitable for my needs.🤷‍♀️
I need to have a known monthly budget. As can not afford to let saving build to high or we lose benefits. 

Brie

Look back on the full year's bills and calculate what you think you should be paying each month.   And then pay that amount.

Not Octopus but another now defunct supplier tried to calculate my monthly based solely on use in January and multiplied that by 14 to get the annual use.  And then divided by 10 to give how much I should pay per month.  A complete fabrication.

born_again

Brie said:

Look back on the full year's bills and calculate what you think you should be paying each month.   And then pay that amount.

Not Octopus but another now defunct supplier tried to calculate my monthly based solely on use in January and multiplied that by 14 to get the annual use.  And then divided by 10 to give how much I should pay per month.  A complete fabrication.

That's the way I'm doing it.
Shame Octopus Seem to not be looking at this.

As to prices. Unless there is going to be a massive rise, then I'm still more than covered.

Scot_39

born_again said:

Strange thig is last year as I had only joined in Aug 23 I was in a debit balance over the winder period. Yet at no point did they mention that a increase was required. 

Prices were falling dramatically at the time - reflected in Ap then Jul caps - July c£200 cheaper than current forecasts fof April.

But iirc other posts Octopus give far more user control on DD levels - some set a nominal £10 or less  - and pay manually before due.

Even EOn allow around 10% drop unchallanged when in credit.

So work out your number based on last year use and current rates - add c7% for Apr rates and c5-10% for last year's mild winter.  And then set your own.

But given how mild last winter was herd - even 10% miggt be tight - this Jan my heating used c25% more power (oops energy) - and with just half Feb gone - and like Dec -  already looking at around 15% higher.  Last year was my lowest winter so yearly consumption ever.

I used to do that on cap announcements - but tgen got into credit thanks to epg - with a 50% refund and paying c20% less than annual / 12 forecasts -  just about to zero when get next bill in early March.

FreeBear

Scot_39 said: this Jan my heating used c25% more power (oops energy) - and with just half Feb gone - and like Dec -  already looking at around 15% higher.  Last year was my lowest winter so yearly consumption ever.

Don't have numbers for Jan 24, but Feb 24, I had used 220kWh of gas. This Feb, I'm already at 300kWh, and we are not even half way through the month. But Octopus seems to think I'm on track to use 2300kWh for the whole year which is down on the 3400kWh they were estimating this time last year.

TroubledTarts

born_again said:

So had a email from them last week stating that my £150 a month DD would be increasing to £ 166.01.

We continually review your account balance and monthly payments to help keep your account on track, and it looks like your current payments might not be enough to keep your account healthy, so we’re suggesting an increase to your monthly payments.

Looking back through my account history. After DD is added.
No estimates, all either smart or user readings, so billing is 100% accurate.

Oct 8th £479.19
Nov 8th £490.63
Dec 8th £478.11
Jan 8th £451.74
Feb 8th £398.69

OK last month bill's was £50 more than DD, but with a week of sub zero temps. Even taking that into account, so far since November I have only dropped £91.94 in credit balance.🤷‍♀️

I can not see my usage increasing to a point where the £398.69 credit is used up in the next 3 to 4 months. Before usage is well below the DD credit each month

I thought more of Octopus with their better systems & customer care 🤷‍♀️Seems like they are slipping back to meet the rest in the monthly DD's game.
But at least unlike others. It does not reject a change to DD. 😍
Back to £150 a month it has gone.  

Prices expected to rise 10% this year so that's all in line imo

As others have suggested you can change it to whatever you like.