Think your DD has been set too high?

[seagles]

My supplier, BG, compiled my 6 month "bill" on the 9th. Received an email with the "good news" and DD to raise to £278 from £170. Considering in June it was £94 (I was just coming to the end of a great fixed rate), I thought it a bit steep, especially as I am shown as £170 in credit. Checking the DD calculator, I used the Moneysavingexpert one but others do exist, guestimated the annual usage based on the last bill and came up with just over £200. Engaged in online "chat" (was quite quick only 9th in queue), the agent checked my account and I let him know that what I was or had done to reduce usage and a complaint was raised. He checked back on my account and recalculated and came up with £150 (£20 less than I am on). I have enough buffer to pay any "debt" in June (fortunately), but meantime I can earn a bit of interest.
In June they estimated I would be pver £550 in debt by next June, in November this was down to around £500. I really wonder about the calcullations used, cannot be easy for the suppliers but even more confusing for the users.
So if you see your DD raised, always contact your supplier, you never know.
On top of this my breakdown renewal came through for next year and had gone up to £100 (this included a subscription to a leisure company that I no longer use, used to be a great source of savings), AA were doing a "black friday" deal of 50% off certain plans. Their standard deal for one car was £65, adding recover to home and the 50% deal triggered taking the "deal" to £64.50. Considering I had been with Britannia Rescue for 40 years, a good time to change.
I also noticed that my train into London the other weekend arrived 18 minutes late. Southwestern acknowledged claim and a cheque in post (what's a CHEQUE) for £2.80.
Every penny counts in these trying times.

[Adamski]

Well done for getting it down. I think British Gas do tend to do this, as my Mum also a lot in credit. I'm with E.on, they seem to be slower at putting DDs up. Just based on my sample of two.

[DrFfybes]

It is very difficult for the energy companies to predict, and some are much worse than others, despite them all using the same base data. For a basic idea you would simply look at previous years and adjust that to current prices.

However that is frought with pitfalls, people replace boilers, move house, fit heat pumps, solar panels for hot water, their needs change. When they decided our our projected use would be 50% higher a while back, I pointed out we didn't live here for the first 2 years of their assumption and I was using our last 12 months actual consumption (also the previous owners hadn't noticed they had the wrong meter number on the bill when they went 'smart' and were paying someone else's gas, although I'd hope that was a rare error).

The high price has made many people cut back this winter, and the unusually warm November has dropped about 25% of many people's use, so adjusting winter projections based on a low use November might underestimate. This week it is probably higher than last year, so the opposite applies.

Suppliers are also under pressure not to allow customers to build up large debts, but similarly will be slated if they overcharge, and have no way of identifying those people who might become unable to pay a large debt next year.

FWIW I put our DD up from £130 to £280 in June, I knew where prices were heading, but the price guarantee has helped. We're were £850 in credit after the 15 Nov bill.Last year our Dec - March bills were between £195 and £225 in total, and as electric is double (and is now a fairly static £130/month) and Gas treble what we paid last year I'm assuming the 12,000 kWh we used dec - march last year will be similar this year and eat into the credit quite easily.

Paul

[Maroochydore]

I'm with Octopus. They allow you to set your own DD amount, either up or down, online.

If you think you're falling behind you can make an additional payment via credit card, also online.

This way at least I feel in control of my account.

[88V8]

With Ovo... they do fail to take account of seasonality - E7, so one would think it axiomatic, but before we built up the credit they used to get in a panic during Spring and tell us we would go into deficit...

Our fix ends on 31.12; currently we are £1400 in credit so it will be September or so before I have to up the £170 DD, although I may ease it up before then.

V8

[88V8]

With Ovo... ... currently we are £1400 in credit so it will be September or so before I have to up the £170 DD, although I may ease it up before then.

Ovo are discontinuing their 5% Credit Reward (a nice 5% tax-free) but reviewing the somewhat ambiguous notice they sent, I wondered whether that applied to existing customers, and was pleased to receive an almost instant reply just now confirming that we will still get the 5%.
So I think I shall up my DD so as to preserve our credit balance.

V8

[seagles]

I'm with Octopus. They allow you to set your own DD amount, either up or down, online.

If you think you're falling behind you can make an additional payment via credit card, also online.

This way at least I feel in control of my account.

BG allow you to change your DD as well, but that was not available to me so soon after they changed it. I will probably up mine after February, once I have a better idea on winter usage. I saw a 9% drop June to December. I may just leave it and get interest on the savings though, depending on interest rates of course.

[Bminusrob]

I'm with Octopus. They allow you to set your own DD amount, either up or down, online.

If you think you're falling behind you can make an additional payment via credit card, also online.

This way at least I feel in control of my account.

Be a bit careful with Octopus, and setting your own DD. They are generally pretty good to deal with, however...

I don't use a lot of electricity. Until the last price rise, my DD was £60 per month. I knew this was a bit low, but I had about £300 credit, and with my DD at £60 a month, I was eating this credit up at betweemn £5 and £10 per month.

With the last price rise, I estimated that I would be using between £90 and £100 per month, but for the next six months, with Rishi's handout, I would need to pay about £30 a month. I noticed that Octopus didn't take any money at all in the first month, and eventually they informed me that since my DD was less than Rishi's contribution, they wouldn't be taking any money at all.

So far so good. However, being an honest type, I knew that I really needed to pay in about (an extra) £30 a month to break even.So, I change my direct debit to £96, expecting Rishi's contribution to be deducted. Well, it wasn't, so I ended up having to phone them, and it seems their system can't cope with changing DD, AND Rishi's bit as well, so I ended up having to change my DD to £30, and while I was on the phone to them, asked them to return most of my credit, which they did, with no quibble.

All I now have to do, is to remember to increase my DD when Rishi's generosity runs out.