Ludensian Gull
Well-known member
That's all we've ever done, haven't got enough money for energy suppliers to be taking more than we use.
[Finance] Paying energy bills by direct debit - scam?
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- #42
Yes. But my original post said this was ten years ago, not now.
(It was probably quite a bit longer than that in fact. Maybe 15 years or even more. Time flies! Twenty years ago the idea of going online and shopping around for insurance or utility deals was not a general thing).
Justice
Dangerous Idiot
Trouble with smart meters is the older ones can’t handle the new software updates making them well a plain old meter. The other reason not to have a smart meter is they can switch you to PAYG with a press of a button if you are someone struggling with the bill, hence you will be paying a higher rate and the debt every time you top up.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,393
there's nothing smart about them, thats just fancy branding. when they work they are simply remote controls for the power companies. their purpose is to enable power companies to switch tariffs according to demand or cut supply.
Thunder Bolt
Silly old bat
@Mellor 3 Ward 4
Smart meters don’t work as well as the industry makes out they do.
I worked in the industry for 25 years, so will stick to an ordinary meter as long as I can despite the pressure to change.
Smart meters don’t work as well as the industry makes out they do.
I worked in the industry for 25 years, so will stick to an ordinary meter as long as I can despite the pressure to change.
Or the opposite depending on which time of you you switch suppliers and start a new contract.
Do you know anyone who had had their gas or electricity supply cut off? I thought not, it is extremely unlikely and you get 7 days notice too.
I know of someone in East Dean who was "forced" to have a smart meter installed for unspecified "health and safety" reasons, they are located in a dip and get no signal so the meter is actually quite dumb!!
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- #48
No. I don't really know any poor people. I don't know anyone who has lost a member of their family in a car accident either. Good quiz, though
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- #49
The more I read your reply the less I understand what points you are trying to make. Nobody is going to get cut off if all the companies are forcing customers to build up massive credit. And as I said, unless they allow me to build up an equivalent massive debt later, without penalty, it doesn't 'even itself out' as was suggested.
The point is as long as you provide closing meter readings when you swap suppliers you won'y be "ripped off" you will pay for what you use and if you have a surplus it will be refunded and if the opposite you will need to pay more to close the contract at £0.00 balance.
How hard is it to understand?
I think your interpretation of "ripped off" is wrong tbh.
Let's agree to disagree. You were getting ripped off, now you got a refund you weren't.
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- #51
I change supplier every year. When did I say "ripped off" by paying for more than I have used (although what part of that isn't a rip off?)? When did I attribute this to not supplying readings? I did everything I am expected to do, including updating the company with real meter readings. I don't expect them to overcharge me by 100s of pounds. I have constantly been in credit by at least £200 over the last year. In the summer I figured it would indeed 'even itself out' but instead the credit has increased - hugely.
Cheshire Cat
The most curious thing..
So Energy here. Currently about £390 in credit and paying £110 a month direct debit, reduced from original £175 due to government rebate.
Credit going down all the time because of winter usage and expect to be in a big debit by end of winter, so might need to be paying more - don't really know because of price increases, especially when tbe rebate ends. I hope my balance will recover over summer, as there is nowhere to move to these days. Every company is charging up to the price cap, so the market model clearly doesn't work any more.
I use tbe direct debit to flatten out payments over the year, rather than get hit with a humongous bill over winter..... not sure how well that will work this year and next.
If your credit is too big, the company will usually refund all or part (at least they used to if you could get hold of them), but maybe they are more desperate for cash these days.
Credit going down all the time because of winter usage and expect to be in a big debit by end of winter, so might need to be paying more - don't really know because of price increases, especially when tbe rebate ends. I hope my balance will recover over summer, as there is nowhere to move to these days. Every company is charging up to the price cap, so the market model clearly doesn't work any more.
I use tbe direct debit to flatten out payments over the year, rather than get hit with a humongous bill over winter..... not sure how well that will work this year and next.
If your credit is too big, the company will usually refund all or part (at least they used to if you could get hold of them), but maybe they are more desperate for cash these days.
Cheshire Cat
The most curious thing..
Some companies have really crap accounting systems and customer service is hugely variable. Best advice is to keep a reasonably frequent check on what you use, what you pay, and your balance, bearing in mind your overall annual usage.
Nothing but praise for Octopus and their levels of service:
- Easy-to-use website
- Helpful staff who always respond - often with more than I asked for
- Smart Meter has never been a problem
- Can change my payments whenever I want. I'm 'in control' in their language
- Quite fun for a large organisation, without coming across as naff and trying too hard
- Pricing not too bad
Final message before you give me an aneurysm...
Scam (in your thread title) is essentially the same as ripped off - look at the definitions - common ones between scam and rip off highlighted in yellow:
Do you ever use pay at the pump for refuelling your car? The same principle applies, Tesco now pre-authorise £120 regardless of how much fuel you draw up to that amount which is the most permitted in a single transaction (was £99 until recently). This means you need to have that amount available albeit for a much shorter period of time that the DD to an energy supplier.
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Tony Towner's Fridge
Well-known member
I have been banging on about this con for years. Take someone like Scottish Power. 2.5million customers. If each customer has on average £300 stacked up credit with them (obviously some more some less but £300 is a good average I feel). Then SP have basically £750m of the general public's money for use as a cash float for both capital and operational project work.
I am with Shell and have £670 of credit. They won't reduce my monthly DD below a lower limit of £252 ppm because they say that is is based on last year's usage. This year I have a new ultra-efficient boiler and am running the house a few degrees colder. Upshot is a 67% lower gas consumption and 45% lower electricity consumption figures for November. This month's bill will be about £275 (after EBSS payment) for which the £25 excess cost will hardly put a dent in my £670 of credit.
All in all it's a bit of a con, as I stated earlier. The good thing is that come April 2023 I will be a few hundred pounds in credit which I will request back from Shell Energy.
TNBA
TTF
I am with Shell and have £670 of credit. They won't reduce my monthly DD below a lower limit of £252 ppm because they say that is is based on last year's usage. This year I have a new ultra-efficient boiler and am running the house a few degrees colder. Upshot is a 67% lower gas consumption and 45% lower electricity consumption figures for November. This month's bill will be about £275 (after EBSS payment) for which the £25 excess cost will hardly put a dent in my £670 of credit.
All in all it's a bit of a con, as I stated earlier. The good thing is that come April 2023 I will be a few hundred pounds in credit which I will request back from Shell Energy.
TNBA
TTF
You might not be in credit by April.
Reminded me of this:No. I don't really know any poor people. I don't know anyone who has lost a member of their family in a car accident either. Good quiz, though
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- #59
The I shall pay what I owe
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- #60
I don't wish to trigger an aneurysm. But with all the magic mushrooms you appear to have eaten, the risk is low.