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I'd guess that overcharging is structural to them - they gamble with the whatever overpayments to make moar dorrah so they can get more helicopters I mean supply cheaper product. pisses me off no end, too, mostly because when you do move getting the final balance sorted out is always a massive headache.
That was kind of my point. They have this technology that basically means they can stop guessing how much of their product you consume, so what do they do with it? Fuck knows because the obvious answer of "improve the customer experience" doesn't seem to have dawned on them yet.
Also - holding credit balances is not hard if the supplier only sends you quarterly statements and then caveats the balance such that you think you'll burn through it in the next quarter. It's all bollocks and they don't pay interest. It's free financing for them.
I should switch to @amey 's provider so I can just stick all my savings with them as massive over payments. 3% is not bad.
Aroogah-
its 5% now for last 2 weeks! (its just high/mid-high risk nutmeg)
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They have this technology that basically means they can stop guessing how much of their product you consume, so what do they do with it? Fuck knows because the obvious answer of "improve the customer experience" doesn't seem to have dawned on them yet.
Ultimately providers don't want them though, right? They were kinda imposed on them. I thought. If that's the case it's not really surprising that they won't use them to do what they are supposed to do.
dicks!
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https://www.moneysavingexpert.com/utilities/lower-energy-direct-debits
(Page is currently down but looking at the google cache...)
"
Know your rightsAfter years of persistent complaints, the regulator finally stepped in and introduced new licence conditions setting out guidelines for fair and reasonable direct debits.
Under condition 27 of the Gas Supply Licence, suppliers must:
o Set fair direct debits. They must take reasonable steps to ensure customers' direct debit levels are based on the best available information, including the quantity of gas and electricity supplied.
o Give clear explanations. If you ask, your supplier must clearly explain why it's chosen that amount for its direct debit.
o Refund credits. If a credit has accumulated and a customer asks for it back, suppliers must refund it. If the supplier thinks the credit should be withheld, the reasons why must be clearly explained but customers can challenge this (see how to challenge it).
In theory, this should make it much easier for consumers to get fair direct debits set for them and reclaim refunds where due. As this is a licence condition, Ofgem can fine suppliers if they breach it. Many energy companies, including all of the big six, now offer automatic refunds when you're in credit (though the threshold for this happening varies). However in some cases it'll still be up to consumers to demand a refund.
Annoyingly, Ofgem doesn't set out what's "fair and reasonable". Instead, it leaves it up to the supplier to decide. If you disagree and the company won't sort out your complaint, you can go to the free, independent Energy Ombudsman to dispute it (see escalate your complaint).
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My energy supplier (all electric) said "we think you will use x amount in the coming months therefore we recommend a DD of x£££s" which was more than double the DD I was paying.
So I rang them and said I was more than capable of regulating my own power usage ( the website monitoring is very good via the smart meter) and yeah thanks for your concern but I'm not paying that. We agreed on an increased DD (winter months) but no where near their 'estimate'.tl:dr - they try it on and they know it - challenge.
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Just checked mine (I should switch, although I think I've got my m^3 to kWh conversion wrong so that may mess up the calcs) and I spent most of last year in debit, it's only recently changed to me being in credit.
amey
Howard
Greenbank
not4sale
Ah sorry I thought you meant 'scrap the DD, just send an accurate bill'
Don't pay by DD then - they love that :)
I'd guess that overcharging is structural to them - they gamble with the whatever overpayments to make moar dorrah so they can get more helicopters I mean supply cheaper product. pisses me off no end, too, mostly because when you do move getting the final balance sorted out is always a massive headache.