What would you do

the black fox

the black fox

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Jeff
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Currently we pay our gas and electric monthly which is £116 pm combined . We have a smart meter ,now I checked our acc balance this morning a we are £500 plus in credit , but every time in the past we have attempted to withdraw some of OUR money we have been told this will lead to increased payments .even half of it back as a lump surely wouldn‘t effect it that much . Not sure what the best approach is as the cretins on the other end are trained not to let you access the funds which obviously there earning interest on ?
 
I hope you are not with First Utility - I have a real horror story with them :(

I pay SOEnergy £55/month by Direct Debit - dual fuel with Low and Normal Electricity supply and at present am in Credit with them - but this will get used over the next 2 months - this month's actual bill was £73.

My advice would be to ensure you are in credit to the value of just over a month's estimated cost and ask for the rest to be returned
 
Have a look at someone like Bulb energy. I was with first utility and all was fine until they got took over by Shell energy. Leaving them was an absolute nightmare.
Bulb are all set up for smart meter payment and seem great so far to deal with. I actually have a link that would give us both £50 each if you did decide to go with them. No obligation to have a look of course. I haven't included it here but check them out if you wish.

Either way they shouldn't be hanging on to your cash!
 
camerassassin said:
My advice would be to ensure you are in credit to the value of just over a month's estimated cost and ask for the rest to be returned
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100% this.
 
I'm sure there was a thread similar to this a while back - the energy company paid a good rate of interest on the credit balance IIRC.
 
Change supplier
 
the black fox said:
Currently we pay our gas and electric monthly which is £116 pm combined . We have a smart meter ,now I checked our acc balance this morning a we are £500 plus in credit , but every time in the past we have attempted to withdraw some of OUR money we have been told this will lead to increased payments .even half of it back as a lump surely wouldn‘t effect it that much . Not sure what the best approach is as the cretins on the other end are trained not to let you access the funds which obviously there earning interest on ?
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You could put that towards a new lens :exit:
 
the black fox said:
we are £500 plus in credit
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We were in a similar position a year ago. We just told them to set up a direct debit for us and send the balance back. They did it without any fuss and the bill is taken from our occount every month without any trouble.
 
Nod said:
I'm sure there was a thread similar to this a while back - the energy company paid a good rate of interest on the credit balance IIRC.
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OVO Energy - I have been with them for many years now after British Gas trying to continuously increase DD despite being in credit.

I moved to OVO. Initially you receive 3% interest on credit, which after a period is increased to 5%. Interest is paid up to £1,000 in credit. As I had exceeded this limit last summer I asked for an amount to be refunded by a simply email process and my bank account was immediately credited.

Have a look at OVO.
 
I have used OVO and found them to be very good, likewise I am now with Tonik who contacted me to reduce my payments automatically once I was over £300 in credit with them. I would recommend either.
 
We were very happy with OVO but found Octopus Energy came in with a better fixed term deal this year.
 
Finding new supplier can wait for a bit - first thing should be


Get his money back !!!
 
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