On 12/06/18 14:39, Andrew wrote:
On 12/06/2018 14:20, dennis@home wrote:
Smart meters save you money even if you don't have one as they don't
need an army of readers to go out and read them.

Then that 'saving' is for the company, NOT the consumer.

I send an accurate electric meter reading every three months
when EDF send me an email requesting it. My balance is updated
immediately and I can pay immediately or wait 2 days to get
an actual electronic bill and then pay it.

However, if I was on direct debits (sic) then i would be
paying an *estimated* amount every month, whereas I actually
pay the proper balance in FULL, and yet derive none of the
financial bribes for DD.

Since most people on DD ended up in credit it is easy to see
why the energy companies preferred DD's.

+1

It is even more obvious that it is a fiddle to benefit the utility
companies as this sort of "direct debit" is effectively nothing more
than a standing order. Yet the companies will not allow you the reduced
tariff associated with direct debit by accepting a standing order
instead. All that is needed is a balancing payment once a year - either
debit or credit - so you only pay for the energy you actually use.

Of course, it doesn't matter if you overpay by £10 a month does it? You
don't really don't miss interest on that £10 as the interest rates are
so low. Now multiply that by a million for the total number of customers
the company has, and that £10 million can generate a nice amount of
interest for them.

But surely the companies don't set up monthly fixed DDs for smart meter
customers, do they? I assumed they would simply deduct the correct
amount from your account each month as they have an accurate energy use
reading.

--

Jeff