Hi all, I have a bit of credit on my account and it’s enough for the ‘apply for a refund’ option to be available when I log in to my account. When I go to claim the refund it says I can only receive it under the condition that my direct debit will have to increase by £7 a month. How is it a refund if I’m then just paying it back on my DD? Surely they just owe me the money?
But your current DD amount probably takes into account that the credit is there, and some of that will be used to pay down your future bills.
There is a big reduction in prices on the way in April, and tactically you might be advised to wait until that becomes operative (so after 1 April)
Then get your meter reading(s), phone them up and get your refund then. Prices are expected to decline about !5% then, so the future 12 month calculation of your consumption will generate a lower expected cost. The refund might be much the same but your future DD costs much lower.
Alternatively if you go for the refund now, you could reduce your revised DD by 10% through your online account.
Current Eon Next and EDF customer, ex Zog and Symbio. Don't think dual fuel saves money and don't like smart meters. Chronologically Gifted. If I offend let me know by private message, but I’ll continue to express my opinions nonetheless.
A credit balance at some point on an annual cycle is to be expected if you have a fixed monthly DD. If you claim a refund then it is not uncommon that your monthly DD will increase.
If you don’t like living with a credit balance then you could contact customer service and ask to be changed to a Variable DD. This means your current credit balance will be used up first to satisfy your bills and then your monthly DD will vary so that you only pay for what is on your bill. No more credit balance and you keep your DD discount.
The downside is that you may find it harder to budget and will have larger DD payments taken in the winter months. I like fixed monthly DDs but have in the past claimed refunds after doing my own sums using the size of my credit balance and DD against what I’m likely to consume over the remainder of the contract.
It is good to be armed with this info when requesting a credit balance refund.
I'm an Eon Next dual fuel customer with no particular expertise but have some time on my hands that I am using to try and help out a bit.
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