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€200 electricity credit & change of provider

beazee

It seems that the latest, winter months, electricity bill be settled before April with funds taken off my account.

April is now the date the government €200 credit (€176 excl. VAT) will come into effect.

The €200 electricity credit is more that enough to settle the next, summer months, bill and partially the next one to follow.

My contract ends after the next bill is settled and I expect ca. €50 leftover of the credit to remain on the account.

What happens to the reminder of the credit should I switch supplier?

Is it bound to the MPRN and will is travel to the new supplier or will I be forced to use it in full with the current supplier once it's granted?

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beazee

Eventually got the reply form the current provider:

If your account is in credit after we final bill your account you will be refunded

I guess that answers the question.

Charlie

My contract ends in the next 7 days and I will be switching, so was wondering this exact question, as it feels like my €200 credit will be applied by my old provider right around the time I move to my new one.

Hopefully it’s as straightforward as the response you got, but I wouldn’t hold my breath.

callaway92

https://www.boards.ie/discussion/comment/118854503#Comment_118854503

TCs and Cs are on most provider sites. Electric Ireland for example explain it quite well

beazee

The €200 credit is now up on the account as "Government Credit 200CR"

apache

https://www.boards.ie/discussion/comment/118881979#Comment_118881979

Yeah I see I have mine.

phormium

What's the story with this credit, I got mine credited to my account on 2/4 but today the full direct debit came out of account for bill even though the credit was enough to cover the lot, still have the credit sitting there!

Dempo1

https://www.boards.ie/discussion/comment/118952772#Comment_118952772

It's likely the credit was applied after your bill cycle date so at a guess, you'll see a smaller direct debit or zero if your account is in credit on bill cycle date next time.

phormium

https://www.boards.ie/discussion/comment/118952794#Comment_118952794

I know it's free money and shouldn't complain but small tad disappointing as I hadn't budgeted for that bill this month as thought the credit would be covering it 🙄

Dempo1

https://www.boards.ie/discussion/comment/118952798#Comment_118952798

I hear you 😉 I'm sure it's just how your bill cycle works, hopefully no DD for you next time round 😉

beazee

Your €200 credit is no longer.

Since 1 May 2022, the government has reduced VAT from 13.5% to 9% on gas and electricity bills. In addition to reducing your overall bill amount, the reduction has also affected the VAT element of the government credit amount that you'll receive.

As your bill was issued on or after 1 May, you’ll receive a €192.08 government credit on your electricity bill (€176.22 + 9% VAT).

Just checked - I've €192.08 in credit