Octopus invites me to take my money back!

[AE-NMidlands]

Today's log in put up a banner "You are £92 in credit. Do you want some of it back?"
As summer is on the way I thought I would, so put my guessed £60 refund into my spreadsheet to confirm it would keep the account roughly 6 months in credit and 6 in arrears.
On clicking yes, Octopus then said I could have £62.60 or something like that! A couple of days for approval, then another couple and it should be back with me.
I'm surprised they make enough money this way, I would have thought they would be tempted to try to get you to keep it a bit fuller for their benefit.

Given that I have already dropped my payments by £20 to allow for the Ripple credits, I wonder whether they will be happy with this latest tweak in my favour?
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[Fintray]

Must only be for the chosen ones, just logged in to mine and nothing about being in credit or if I wanted any of it back.

[openspaceman]

Eon are returning £200 because my battery has meant I have not imported electricity since March 5th, however they will not drop my direct debit amount below £72, which is a £22 per month increase over my previous amount.

[AE-NMidlands]

Eon are returning £200 because my battery has meant I have not imported electricity since March 5th, however they will not drop my direct debit amount below £72, which is a £22 per month increase over my previous amount.

I don't think they are allowed to do that, I'm absolutely sure they have to agree it with you. You can insist on a sensible figure and if they won't agree it in a phone call then make a formal complaint, and threaten to go higher again if they won't listen.
I can't remember which company it was, but once my dd was put up a lot without justification. I had to state very firmly that I knew how much I used and what the tariff was, and I wasn't going pay more than £x. They agreed straightaway.
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[Moxi]

Eon did a carpet dad raise on everyone in April and in some instances that was more than a fifty percent rise as it was with me - this is in fact not allowed under the regulations and EoN with a few other big six are being challenged for swelling their cash flow coffers artificially- the regulator is already investigating so this latest offer of your own money back may be an attempt to save face and avoid punitive fines?

I reduced my dd by the allowed 10% straightaway and have put two meter readings in to try to get an updated account summary so I could call and further reduce my dd but so far they’ve failed to update my account which hasn’t happened before so there’s clearly something going on in the background.

Moxi

[ecogeorge]

SHMBO pays the electric and they tried to hike by a silly amount.
She now pays the quarterly bill by direct debit based on billing not estimate.
That way you still get the direct debit payment reduction discount but only on what you have used.......
George
(rolling 12 mth daily average 10.45Kwh daily -no gas).

[Tinbum]

EON Next tried to hike mine up by a ridiculous amount a year ago. I went straight online and changed it back to what it had been and I'm still in credit a year later and always have been in credit. They said it was based on historical usage which was a blatant lie, no way could they justify it..

[Joeboy]

Today's log in put up a banner "You are £92 in credit. Do you want some of it back?"
As summer is on the way I thought I would, so put my guessed £60 refund into my spreadsheet to confirm it would keep the account roughly 6 months in credit and 6 in arrears.
On clicking yes, Octopus then said I could have £62.60 or something like that! A couple of days for approval, then another couple and it should be back with me.
I'm surprised they make enough money this way, I would have thought they would be tempted to try to get you to keep it a bit fuller for their benefit.

Given that I have already dropped my payments by £20 to allow for the Ripple credits, I wonder whether they will be happy with this latest tweak in my favour?
A

Good to read about a power company actually doing the right thing. Octopus seem have a great philosophy for their business. I have been £10 dd for months now. May's payment from Ripple will flip me into positive charging of the Octopus VB in the run up to Winter. Even as I write it, seems unreal.

[Stig]

Eon put my DD up from £26 to £73! Admittedly it was a bit low and my account was in debit during the winter (and still is) but it was a bit of a shock.

[AE-NMidlands]

Eon put my DD up from £26 to £73! Admittedly it was a bit low and my account was in debit during the winter (and still is) but it was a bit of a shock.

As I said, Octopus seem quite happy for my account to be 50/50 in surplus and in debt. Even when my 12-month fix went up 79% (gas) and 36% (elec) last October their proposed monthly payments still kept it that way... Looking at it more carefully now, I see that it is 5 months in debt averaging £31 and 7 months ave £143 in surplus. Maybe that is why it works for them.

I'm not complaining though!
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