Hi all, hope someone can assist me. Currently paying £278 a month, had message to say tariff ending tomorrow and new tariff is next flex (around 20p per kWh). Option to fix a different new deal for 2 years after the cap rise and based on my usage my annual bill is estimated to be £5,413 a year, monthly fee of £451. I have a debit balance on my account of £504 so I've logged in this evening and made a one off payment to clear the balance so I'm now at nil. I've just switched over to the new fixed tariff , however, firstly it's saying I'm to pay £509 per month until November and then £451 a month - I'm assuming that they haven't taken into consideration that I've cleared my balance - although it does show a nil balance. Secondly, the new tariff is due to start tomorrow 1/3 and I don't want it to start until 1/4 so I can have one final month at the lower price before the cap rise.
Have tried to make contact via facebook but no luck!!
@markhurn Glad you have posted this..... I have been trying to work out why my new monthly payment on a new fixed rate would be a lot more just until November? Are you certain it is because of a debit balance on the account? I also have a debit balance so seems to be the logical explanation. I also thought to clear the balance to see if it bought that monthly payment down.
You explanations of the two tier DD schedule are correct in my view. However, clearing the debit balance will enable you both to lower the monthly DD amount. It has to be understood that the monthly DD is still based on an estimate/prediction of your consumption.
If you use more energy than the assumption you will build up another debit balance, but if you use less you will go into credit. Even though you are on a fixed price deal you are not on a limitless consumption deal.
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