If you pay your fuel bills by monthly direct debit...

[hunnymonster]

... when the statement comes in, check it.

I've been guilty of not checking my electricity account for over a year. In that year, I've built up a credit approaching 50% of my actual usage... so in effect every month I've been giving a faceless corporation an interest-free loan amounting to (in my case) a couple of hundred quid, growing at about £15 per month.

That dosh is now headed back to my bank account and I've reduced the monthly payment by 30% as well.

Conversely if you're underpaying and building up a systemic debt, it could easily get to the situation where they review your payments to recover the debt in 6 or 12 months and you could see your payments go sky high (and they'll stay there even once the debt is repaid until you challenge it).

 

[IanM]

I still do it the 'old fashioned' way. I have Gas/Electric, they send a bill, then I pay it. Maybe there are DD options that may make it cheaper, but I don't trust these people to get it right.

Ian

 

[antdad]

ahhh..but do they know you have been on the same tariff for several years?

I prefer to pay for what you have just used for precisely that reason.

 

[Audiolab]

ahhh..but do they know you have been on the same tariff for several years?

I prefer to pay for what you have just used for precisely that reason.

What do you mean, do you get a monthly or quarterly reading and pay that bill and move suppliers regularly?

Mine is currently spread over the year but I do keep an eye on it. I expect this year may be a bit more of a hurt to those on an annual plan as they will have used a lot more during this winter and end up with a payment hike next assessment date.

 

[hunnymonster]

ahhh..but do they know you have been on the same tariff for several years?

I prefer to pay for what you have just used for precisely that reason.

They never look at that bit - well to be honest they don't understand much about their own billing system :lol:

 

[antdad]

ahhh..but do they know you have been on the same tariff for several years?

I prefer to pay for what you have just used for precisely that reason.

What do you mean, do you get a monthly or quarterly reading and pay that bill and move suppliers regularly?

Mine is currently spread over the year but I do keep an eye on it. I expect this year may be a bit more of a hurt to those on an annual plan as they will have used a lot more during this winter and end up with a payment hike next assessment date.

I posted a utility query a few months back, I remember HM stating that his tariff hadn't changed for years so he was keeping his head down.

When I was on a monthly payment plan I was getting a call every other month to increase my payments so as to have enough in reserve for Winter usage, that's it I thought I can do that myself, I can just as easily put a monthly sum away and then pay for what I've used every quarter if necessary.I've been with the same utility company for 5 years or so...just pay every quarter for what I've used. No split tariffs, annual loyalty bonuses, over payments or phone calls to up my payments. Having said that our household is I would say a medium rate user, if your utility bill is over a £1000 + a year you can certainly benefit from all those incentives.