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Overpayments

posted by allanP | A month ago

Just signed up for 2 year plan for gas and electricity. I will pay by direct debit. Is the figure quoted BY SP cast in stone?  And if  I overpay, can I be reimbursed at say 6 monthly intervals?

11 comments

Top answer

posted by Davc | A month ago
Re: Overpayments

The initial DD can be changed as the system learns your usage pattern. Use less and the DD will decrease, and of course the other way round. A high DD in the winter often drops in the spring. If you think you are building too much credit you can change the DD on line or request a review.

posted by Jonnel | A month ago
Re: Overpayments
@allanP If you build up a high credit balance and want it back in your pocket you can request all of it or a proportion of it at any time via your online account. During the summer I did this monthly as it was easier to get SP to do that than lower my DD. You don't have to wait 6 months. In reality however, SP may not agree to refund all of your credit depending on the time of year (high winter usage) and your next payment (dd value compared to upcoming bill). A high credit balance is no bad thing though, as it does protect your dd from huge jumps should you use a lot during the winter, and it buffers your own finances from suddenly having to pay a big DD shortfall say, just before xmas. The only time your account gets a 'review' however, is once a year on the anniversary of your tariff start. In my experience this review means little to nothing, if you have the time to manage your DD and refund requests monthly.
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posted by Mussie | 4 weeks ago
Re: Overpayments
this kind of helps yes I have a large amount in credit yet they still send me an email to say that my monthly DD will need to be increased by almost £20 per month which seems silly when I have such a high credit in the account. Just makes me wonder if they are getting any interest on my high credit. I have tried to get half of it back with no luck and trying to get hold of someone to speak to is really very hard been at it for an hour today and still no luck at speaking to anyone hence this note on here. Many thanks for the advice above it has helped part way.

posted by Davc | 4 weeks ago
Re: Overpayments

Hi Mussie, Try again on line and ask for a smaller amount back, it might work. These months are the most expensive of the year and its not bad to have some credit in your account, if it is less than £100 it's probably better to leave it until the warm weather returns in April.

posted by lottielou | 3 weeks ago
Re: Overpayments
I had a refund on my account and DD payments in Dec 18 were supposed to go down to £70 leaving a credit of £65 on account however this was not the case SP took £100 DD when I called to query this I was told couldn’t do anything for 5 days, I left it then requested refund of the £30 extra taken in Dec, again rated new DD was £70 so why is it again in Jan 19 again have SP taken another £100 on DD, o I need to cancel my DD to then have to set up again, I check account online and clear says my DD is now £76 and can I enter meter readings... I have a smart meter fgs? Anyone else have this issue?

posted by Jonnel | 3 weeks ago
Re: Overpayments
@lottielou The difference between a direct debit and a standing order is that a DD value can be altered by both payer and payee. This is the same for any DD, not just those with SP. A standing order cannot be changed by the payee. SP like to keep customers' balances in credit during the winter months to cope with any high winter bills. This seems to be what they're doing to your DD, as the balance you're leaving in your account is probably considered too little to match the following month's usage even with another months's payment on top. It's automated, not a deliberate raise on their part.

posted by allanP | 3 weeks ago
Re: Overpayments

To all who responded - many thanks! I now have enough information!!!

posted by Debz | 6 days ago
Re: Overpayments

Can someone please help me, I have been a SP customer for along time, however have now chosen 2 years fixed tarriff ending April 2021 with an increase of £6 a month on my dueal fuel. However I have over £200 in credit, we are near the end of February  so over alot of winter months. I would like at least £100 back.  Everytime I try to do this, its saying give meter readings, I cant Im on a smart meter fitted by SP.  How can I ever get this refund, no-one ever picks up on the phone these days. 

posted by Debz | 6 days ago
Re: Overpayments
Nothings solved my end, no one answers the phone, all I want is a partial refund, It was SP that put me on a smart meter, you have my meter reading not me.