Keep an Eye on Your EDF Direct Debit

Written by Karen Bryan

edf direct debitWe signed up to a Fixed Rate Dual Fuel deal with EDF energy in March 2011, when our previous capped rate deal with Scottish Power ended.  I’ve always saved money by doing research and switching to a long term fixed or capped rate deal. With EDF you have to set up a separate direct debit for gas and electricity, even if you take a dual fuel package with them. Based on our consumption, I set up a £35 a month EDF direct debit for gas (and another for electricity).

In early October 2011 I received a gas direct debit review from EDF, saying that they were increasing the direct debit by £23 a month to £58  (a jump of around 66% ), despite the fact that our gas account was £182 in credit.  I wasn’t happy with such a large increase, so I contacted EDF and they agreed to keep the direct debit at £35 a month.

I do think that paying one 1/12th of your gas or electric bill every month is a good idea, as it allows you to calculate essential expenses and avoid any nasty shocks when you Winter bill arrives. However, I’m not keen on giving too much money upfront to energy companies either. You could argue it’s better to have more money set aside to cover your bills and get a rebate from the energy company, but I’d rather keep that excess in my savings account.

To get the lowest prices for gas and electricity you should check out the best available deals on a price comparison site such as EnergyLinx to keep down your living expenses.

Update 26 January 2012 – Just as well I requested that edf take my direct debit back down to £35 a month, as I received a statement today to say we are £194 in credit.