Shocking

  • Dexter1990's Avatar
    Level 1
    I have £272 credit in my account. The government pay in £66 I pay In £60 wanted to reduce my DD to £20 and they blocked it. Also said I should be paying £ 113 a month to keep me in credit ( thats a JOKE). Multiply that by millions of customers in credit and EON NEXT have a very healthy balance for interest. I prefer the money in my account not my energy supplier
  • 3 Replies

  • retrotecchie's Avatar
    Level 91
    @Dexter1990

    My personal suggestion, which has worked for me and seems to work for others, is to change from fixed regular DD to DD payment in full on receipt of bill every month. That way, they will deduct from your credit before taking any payment by direct debit. Whether you can change that on the app/web account or not, or need a call to Customer Services, I'm not sure, but it makes sense for people with large credit balances. I was almost £600 in credit in June, but that soon got eaten into after the October price rises and catching up on a few actual rather than estimated meter readings.

    On the other hand, Government handouts end after March, and the OFGEM caps are set to shoot up again, so having a few hundred credit balance may insulate you from massive price shocks going forward. Your call, but in your position I'd be tempted to leave that buffer. Me, electric only at low usage and no gas, so made more sense to me to change to bill in full, ride out the winter, and then be into a very low usage pattern when things go hyper again in April.
    Don't shoot me, I'm only the piano player. I DON'T work for or on behalf of EON.Next, but am willing to try and help if I can. Not on mains gas, mobile network or mains drainage. House heated almost entirely by baby dragons.
  • Dexter1990's Avatar
    Level 1
    @retrotecchie

    Yes I agree I will just leave it but I am also all Electric but I carefully check my app every week and the buffer is best left alone and I can reduce it in the Spring.
  • retrotecchie's Avatar
    Level 91
    @Dexter1990

    As I say, you need to figure out what works best for you. If the money is a credit in your electricity account, it will buffer you against whatever may happen come April. If you are finding the pips squeaking now, especially with The Festering Season almost upon us, then reducing your DD by going 'pay on receipt of bill in full by DD and eating in to your credit will give you some breathing room right now, especially with HMG helping out to the tune of £66/67 a month. You'll then just get a huge hike come April, but at least you are into less energy use then anyway.

    Chew it over for a bit before you make a decision. Then do what works, or makes most sense, for your circumstances.