Unexpected and large credit to octopus account

FoolhardyCrab

So I moved into my current apartment in 2023, and my electricity account has been plodding along normally, with what I thought were reasonable bills. My account history shows a mix of estimates and my submitted readings. I had managed to build up a modest credit balance of £270

Out of the blue Octopus sent me a new statement where it looks like they refunded all my past charges, and then charged them again but in a different mix of periods. After all of this, my account was £1300 in credit. My account history is now a huge mess showing at various points a debt of £1100 (In reality I had never built up a debt that large) ending with the £1300 credit I just mentioned. I'm fairly sure my bills were roughly correct before, so I'm quite suspicious that this current balance is incorrect. I really don't want to have to wade back through 2 years of readings and bills to work it out though. And I can't say I'm unhappy with where things have ended up.

So I have a few questions:

1. Am I obligated by any rules to tell Octopus about this probable error in my favour?

2. Am I doing anything wrong by asking for this large credit balance to be paid out? (If it turns out that I end up having to pay it back, I can manage my cash so that this wont be a problem)

Part of me is tempted to just set my payments really low and keep quiet.

QrizB

Welcome to the forum.

It should be a straightforward exercise in primary school arithmeticto check your "new" Octopus bills against your meter readings and confirm whether they are corect, or not. An error of £1300 would leap off the page.

If you'd like a second opinion, can you share some info with us?

1. Actual meter reading(s) when you moved into the flat.
2. Actual meter reading(s) today.
3. Tariff details - single-rate or E7, default variable rate or fixed?

We can then give you a sanity check as to how much you hould have been charged for the period.

FoolhardyCrab

You inspired me to run some rough numbers. I'm now sure my original bills were close enough to correct and this new balance is a mistake. It looks like I've used around £2500 in usage plus standing charges and paid roughly £2400.

FoolhardyCrab

I think I have worked out what happened. They refunded all my usage back to when I moved in 2023, but only charged me again from the start of 2024. So they have effectively given me everything I used in 2023 for free.

I would have edited my previous post, but I can't seem to find an edit button.

QrizB

FoolhardyCrab said:

I think I have worked out what happened. They refunded all my usage back to when I moved in 2023, but only charged me again from the start of 2024. So they have effectively given me everything I used in 2023 for free.

That would explain it!

You should probably let them know now, they'll work it out eventually and (because you've previously been billed) the back-billing restrictions are unlikely to apply.

FoolhardyCrab said:

I would have edited my previous post, but I can't seem to find an edit button.

I think editing is only available once you've been on the forum for a certain amount of time and have made enough posts that the moderators know you're not a spambot.

FreeBear

QrizB said:

FoolhardyCrab said:

I think I have worked out what happened. They refunded all my usage back to when I moved in 2023, but only charged me again from the start of 2024. So they have effectively given me everything I used in 2023 for free.

That would explain it!

You should probably let them know now, they'll work it out eventually and (because you've previously been billed) the back-billing restrictions are unlikely to apply.

But they may offer you a goodwill payment of £50 or so. Doesn't hurt to ask.

EssexHebridean

Yes, in this circumstances I would suggest you are not obliged to tell them, but it would probably be sensible to do so. 

Petriix

My guess is that they have an algorithm for calculating bills which includes a version of the back-billing rules which is falling in your favour. If it were my account I would set my direct debit to £1 and allow the credit to slowly dwindle. They would be unlikely to ever notice. Just make sure you put sufficient money in a savings account to cover the difference just in case. 

FoolhardyCrab

So I've decided to contact them and let them know I think my bill is incorrect. Regardless of the efficacy, it is the right thing to do. But I'm not going to push the issue if they don't fix their mistake.

Petriix said:

Just make sure you put sufficient money in a savings account to cover the difference just in case. 

Yep, my finances can handle it even if they suddenly realise I really did owe them an extra £1000.

FoolhardyCrab

Well I told Octopus, sent them my statement as requested, and they reckon the account is accurate. I don't agree, but I'm not going to argue with them.

Swipe

Just make sure you keep the cash handy in an easy access savings account for when their system randomly recalculates your bill.