What kinds of Direct Debits are there?

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There are a number of forms of direct debit:

  • Monthly Direct Debit
    The direct debit amount will normally be calculated on the basis of your actual or projected annual energy bill and divided into 12 equal monthly instalments. This amount is normally reviewed once a year and your monthly payments are adjusted accordingly. Some suppliers offer incentives for customers who make use of a monthly direct debit.
  • Variable Direct Debit
    Variable Direct Debit is different to Monthly Direct Debit in that your actual energy bill is deducted from your bank account at the end of a fixed calendar period in which you use the gas or electricity. This calendar period varies depending on the tariff you signed up for, and can be a quarter, a half year or a year. A typical Variable Direct Debit is taken on a quarterly basis.
August 27th, 2017|