The cost of living... what can we do?

I won't let them collect estimated direct debits, I'm sure half these energy companies are using their customers as lending banks, loans at zero interest rates.

I always pay for what I use, only, and the best bit is you pay in arrears so you are in effect borrowing from them, if only for a month.
Why should they be allowed to take money in advance.

 

I agree with all of this, but, I run my account in credit.

Early this year, I preempted a massive hike in energy prices, so I voluntarily increased my monthly direct debit. When I last checked I was over 500 quid in credit. Yes this effectively means I've lent them money at zero interest, but it also means I can run down that credit over winter so my bills won't get out of control.

 

I do sometimes wonder how much of people's money the energy companies are hanging on to.

Recently they seem to have been setting some pretty high direct debits
for people .
Which is just another of the bandwagons I keep moaning about.

 

I have no doubt in my mind that they're artificially inflating people's direct debits. They tried it on with me. They calculated mine based on last year's use, not taking into account my substantial credit balance.

I've heard of and read of many people in the same situation.

It's not just individuals either. At work I heard someone from our finance dept arguing about us being on an estimated bill despite us providing meter readings and being in credit.

They're doing it to protect their cashflow because they expect a lot of people to default. I have no opinion on whether that's good or bad.

 

£1 per customer per week and they have 1 million = £1million per week

 

We get our gas bill every three months and pay it as soon as the email arrives. Our electricity is on a pre-paid meter (Mum had it and we never felt the need to change to anything else) so we just top it up as we see fit.

 

My prepayment tariff is actually a penny less for both standing charge and per unit than a pay quarterly tariff.

 

I have no idea.

 

Just looked it up. The standing charge is dearer but the unit price is cheaper than pay monthly.

With the Smart meter we have, meter is the same as a standard Smart meter, only the software is different so no "rental" charge.