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The benefits of Direct Debit

Posted on 4 January 2016

We’re all busy these days, so having an energy account that can manage itself is an important part of modern day living. At Co-operative Energy, we offer a number of competitive products with Direct Debit payment options.

As well as managing itself, opting to pay your energy bill via Direct Debit often offers financial benefits.

Will a Direct Debit work for you?

If you’re the kind of person who just wants to set up a payment plan and let things take care of themselves, a Direct Debit is ideal for you. Based on your average consumption, we agree a figure for you to pay each month. As long as your estimated energy usage does not change, your Direct Debit payment will remain the same throughout the year, come out on the same day each month, and help you to manage your increased usage during the cold, dark winter months.

As simple as it is, you need to keep in mind that the amount we fix when setting up your Direct Debit may be a little over or a little under what you use as the year goes on. For example, in the summer when you’re not using your heating, your Direct Debit may put your account in credit. But when winter rolls around, and more energy is used, the Direct Debit amount may not cover all your usage. That’s why any credit from the summer months is important, as it covers your extra usage through the winter.

We will regularly review your usage to make sure your Direct Debit accurately reflects how much energy you’re using. Sometimes, we may need to increase your Direct Debit amount to ensure your account does not fall into arrears. Likewise, we always refund customers whose accounts are in credit when asked, but it’s important to understand that this credit does serve a purpose.

If you would like to change to Direct Debit payment, call our team who will be happy to talk you through your payment options: 0800 954 0693.

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