Energy Direct Debit - Predicted to be in plus at FYE but they want to increase

Qyburn

Scot_39 said:

How many on MVDD would be willing to put down say 2 months average payment as a credit float - only revoerable on switcing supplier ?

I suggested that before. Almost every day there are posts from people fighting their supplier over their fixed DD level and that just doesn't appeal. If the price of MVDD was leaving a balance then I could live with that.

born_again

dunstonh said:

MrSerling said:

Hi OVO customer here.
I have a direct debit, I'm currently in a positive account balance by a few hundred pounds - but I realise that will reduce over winter. That is not the issue. OVO predict from my usage and current DD (£118) that I will finish in a plus at 31st March next year (i.e. after the winter). 
They say they will increase my DD from £118 to £135 per month.
Surely if they are predicting I will finish the year in a positive, they can't change my DD? (Again, I'm not talking about using up my current positive balance - NO, they are PREDICTING, I will still be in a small positive at year end!!)
What are the rules around this? There must be plenty of people getting this without realising it?

Being just a few hundred pounds in credit in October is probably on the light side.
Winter spending tends to end of April/early May. 

A small increase seems logical.

They are not predicting.  They are estimating using assumptions.   Any estimate will be wrong.   Only hindsight will tell and it will depend on next two quarters pricing (which is unknown) and the weather (unknown).

Going with a budget plan always involves some margin of error but it all comes right in the end.  Such as small difference between £118 and £135 seems a bit silly getting worked up over. 

Ultimately, if you dont like it, you can always move to the full bill method each month.

I balance my monthly DD based on my usage (thankfully Octopus allow you to do this, their suggested amount is £190 a month). Even  with a £500 credit. Currently paying  £100 a month. Which covers current usage. Will soon be being upped to £120 to cover the increase due to weather. Hopefully can sustain that over winter. If not then it will go to £150.
This allow me to use some of the credit built up, but not end up paying a lot more than I'm using.

So agree £17 is not worth arguing over. At least paying a bit more now, means you won't get a bigger increase later when it maybe harder to find the funds. If it is a really hard winter.