Paying for accurate usage

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Debutante
Debutante Posts: 49 Forumite
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in Energy
Hi all

Am new to switching and have the following question -

We have just changed our boiler from an ancient gas guzzling monster to a condensing type. This should mean much lower usage. At the same time I want to switch suppliers as we are paying top dollar rates. This will be at a fixed one year deal. When the new supplier gets our info from our current supplier they will presumably set our initial D/D's at a higher figure than they will need to be. The question is - if I give them regular meter readings are they legally obliged to reduce the DD to reflect actual usage ? What I am fearful of is that they will wait until the end of the fixed year to make the adjustment and even more, as they are a new never heard of before entrant they go belly up owing us cash .....

Apologies if this question sounds obvious but we are still in the stone age paying bills quarterly as they arrive.

Thanks
Paul

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  • oldfella
    oldfella Posts: 1,534 Forumite
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    when you submit the application you are asked your expected consumption. Tell them the new expected numbers.
  • datlex
    datlex Posts: 2,239 Forumite
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    If you are worried about the new supplier why not try a different one that is better known but cheaper than your current supplier?
    Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.
  • Robin9
    Robin9 Posts: 12,102 Forumite
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    Debutante wrote: »
    Hi all


    We have just changed our boiler from an ancient gas guzzling monster to a condensing type. This should mean much lower usage.

    Doesn't always follow. Sometimes you are so pleased to have a good boiler you use it more and have more hot water and heating on for longer.
    Never pay on an estimated bill
  • PaschalFun
    PaschalFun Posts: 241 Forumite
    edited 15 April 2018 at 2:57PM
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    Debutante wrote: »
    Hi all

    Am new to switching and have the following question -

    We have just changed our boiler from an ancient gas guzzling monster to a condensing type. This should mean much lower usage. At the same time I want to switch suppliers as we are paying top dollar rates. This will be at a fixed one year deal. When the new supplier gets our info from our current supplier they will presumably set our initial D/D's at a higher figure than they will need to be. The question is - if I give them regular meter readings are they legally obliged to reduce the DD to reflect actual usage ? What I am fearful of is that they will wait until the end of the fixed year to make the adjustment and even more, as they are a new never heard of before entrant they go belly up owing us cash .....

    Apologies if this question sounds obvious but we are still in the stone age paying bills quarterly as they arrive.

    Thanks
    Paul

    There is no legal obligation, but you can always make a request to your supplier. :money:

    Follow their complaint procedure, if you are still unhappy.


    Don't worry about your supplier going bust. Any credit, or debit, balance will be handled by the new supplier appointed by Ofgem.
    This has worked in the past with the likes of GB Energy & Future Energy.
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