Time to Contact your Energy Supplier?

[SueEllen]

It's the summer, you're supposed to be in credit aren't you? Although now suppliers seem to change the DD seasonally instead of letting it build up a surplus in the summer to fund the winter.

Depends on the supplier.

When I was with BG I was in credit in March so they sent me the money back. Then a month later I switched.

[d000hg]

It's the summer, you're supposed to be in credit aren't you? Although now suppliers seem to change the DD seasonally instead of letting it build up a surplus in the summer to fund the winter.

[PCTNN]

more than £500 in credit with OVO.

impossible to manually change the direct debit amount online.

impossible to get in touch with them via webchat.

they want you to phone, which I'll do. I'll also swap provider at the end of the contract because they're a bunch of crooks.

[d000hg]

I am around the same amount in credit, but I'd prefer to make use of my own money rather than lend it to my supplier.

You're that hard-up?

[Peoplesoft bloke]

I am around the same amount in credit, but I'd prefer to make use of my own money rather than lend it to my supplier.

[Mordac]

Currently £350 in credit. That'll probably disappear when the bills double again in October.

[SueEllen]

To repay you for having too much credit.

https://www.bloomberg.com/news/artic...d&cmpId=google

The UK’s Ofgem is naming and shaming energy suppliers who take too much money from their customers on automatic payments.

The energy regulator is stepping up scrutiny of the sector after lax oversight failed to prevent the failure of more than two dozen suppliers as energy prices soared last year. Ofgem told several energy companies on Wednesday that they must change how they calculate direct debits.

The regulator is under pressure to prove it has a closer eye on the behavior of energy companies after admitting that it could have put more checks in place before so many went out of business. Energy bills are set to jump to record levels in October, fueling the worst cost of living crisis for decades and threatening to leave millions unable to pay their bills.

“We know how hard it is for energy customers at the moment so it’s crucial that the amount they pay each month in direct debits is right so they can manage their money,” said Jonathan Brearley, Ofgem’s chief executive officer.

Customers can pay their bills by automatic monthly payments, known as direct debits. Those can be used to spread the cost of energy evenly throughout the year to balance the cost of the energy-intensive winter months with the relatively low-demand summer period.

The regulator has put all suppliers into three groups, depending on how they use the direct debits. Those in the worst group, including Ecotricity Group Ltd, Good Energy Group Plc, Green Energy UK Plc and Utilita Energy Ltd, need to change how they use the payments and report their progress back to Ofgem.

About 8% of customers on the default price cap tariff, or 500,000 customers, saw an increase in payments of more than 100%. Suppliers have been asked to review these increases.

The regulator has been looking into how energy companies use customer money including credit balances built up through over paying on bills. Companies including Centrica Plc and EON SE have argued the funds should be ring fenced to stop companies using them as working capital.

Ofgem will start engaging with the companies and if they don’t change their practices, the regulator may take enforcement action which could include fines.

Some of the biggest suppliers, including, Centrica’s British Gas unit, Iberdrola SA’s Scottish Power and the UK unit of Electricite de France SA were in the top group, meaning they had no issues.

Companies in the second group, meaning they had minor weaknesses, included the UK unit of EON, Octopus Energy Ltd and Bulb Energy Ltd., which was effectively nationalized last year.



Or read the OFGEM press release -
https://www.ofgem.gov.uk/publication...-direct-debits