How do you review my monthly payments?
We look at a number of ‘moving parts’ to help you keep your payments on track as much as possible and help you avoid bill shocks. We look at what your current balance is, how much you’re currently paying a month and we also look at what we think you’re going to use in future (based on your recent usage history, which may be based on actual reads or estimates). We also take seasonality in to account, as you’ll usually use more in winter than in summer.
This helps us regularly estimate whether you’re broadly paying the right average monthly amount to cover your usage over the year, or whether we need to change your monthly payment.
If you seem to be paying too much or too little, we will let you know and change your monthly payment, spreading your balance over the next 12 months and adjusting your payment to reflect your latest forecasted usage.
How often do you review my monthly payments?
We will review your payment at least every six months to help you avoid any bill shocks. We will contact you if we think it needs to be increased or decreased.
We would also recommend when we send your monthly statement email, you open this and view your latest account balance – that way, you will always be aware of your latest status and enjoy peace of mind.