Understanding statement / billing

I just switched to bulb last month and they charged me a month’s payment upfront at the end of June, as per their system, which is fine. In July, they’ve charged me again. So my bank statement shows that two payments have been taken. But my bulb statement shows £xx.xx “in” in June and £yy.yy “out” in July.
I don’t really understand the “in” and “out” on my bulb statement in the first place (why not use “debit” and “credit” like everyone else?), but I especially don’t understand why June is marked “in” and July is marked “out”, when in both cases the money left my bank account.
Any ideas??

hi @adam5463

The “money in” refers to the payments coming into your MyBulb account from your bank account. The “money out” refers to the cost shown on your statement ie. the amount being deducted from your MyBulb account to pay for the energy used that month. Your next payment which is currently being sent from your bank will again show as money in.

Thanks @helen
As you predicted, my statement now has a second line for July saying “money in”. The statement doesn’t show the total amount of money that’s now sitting in my MyBulb account though - that would be a helpful addition. Not sure what the rules are about posting these kinds of details in the forum, but my statement is as follows:
29 Jun £68.60 “in” (confirmed by bank statement)
29 Jul £44.37 “out”
31 Jul £68.60 “in” (confirmed by bank statement)
So am I right in thinking that I now have (68.60-44.37) + 68.60 = £92.83 sitting in my MyBulb account? And if so, can I expect that my next two payments (assuming the same energy usage as in July; approx £45) will just be taken out of the £92.83 credit I’ve now accrued, so I shouldn’t see any more money leaving my bank account until the end of September?

If you click on the statement date you can download a more detailed breakdown of the charges and that should have a line:
‘Your new account balance £ 91.03 in credit.’ In my case they issue the statement the day they take my money, but that day is not included on the statement, so my latest payment isn’t accrued to my statement until the following month, so really my credit is even higer than they make out, but of course they have to make a cut off somewhere.

Your direct debit is taken every month, so your credit balance will continue to rise, until winter when presumably you will use more energy (but they also take a 20% higher direct debit in winter, at least they did for me). I am paying £30-£50 too much in the summer, but not quite enough in the winter (only been signed up for 6 months) and so my credit will diminish as my winter bills start adding up.

If you are paying way over then I think you can ask to reduce your monthly direct debit, I am not sure what happens if you have a big credit balance at the end of the first year, presumably you can then adjust your direct debits down a lot more for the upcoming year,

@loveit If you have a big credit balance at any point we would be more than happy to stop taking payments to work through the credit or return money back to your bank account.

Hello, I switched to Bulb in June and I have just logged into my account. I went to the Statements and Payments page to look at my statements but could only view the date, in/out payment summary page. I tried clicking the date the sum of the money in etc, but was unable to access my statements for each month. Have I missed a step?

@adam5463 the short answer is ‘no, you should not expect that.’

The long answer:

As my colleage @andy_bulb explained, we can stop taking payments so that you can work through the credit or return money back to your bank account. However, we would not do this automatically – we would need you to ask us to do it.

You can actually change your payments yourself at my.bulb.co.uk, in the payment details section.

Now let’s talk specifics. You’re paying about £70 per month but your summer usage is £45. This mean’s you are about £25 in credit (not £90, though – we take payments in advance, so you should always be one payment ahead). Does this mean you should reduce your payments? I don’t think so, actually. Your payments may be set perfectly. As @loveit discussed, one’s summer usage is usually about half one’s winter usage, Of course, everyone’s usage is different, and you know best, so feel free to reduce your payments if you feel that makes sense for your personal situation.

Note for @loveit – we’ve stopped doing winter uplift.

Further note for @loveit thanks for such an awesome and helpful answer to @adam5463

Hi @sunita – we had not yet created a statement for you. This was because of a little glitch in the billing system. I’ve fixed the glitch and created a statement for your first two months. You should have it as an attachment in an email, as well as in the statements and payments section of your my.bulb account.

Hi, I only see ‘money in’ on my account. Should I have seen a statement generated? Signed up in June.

@karl3586 I’ve just checked your account and there was a nasty little bug stopping your bills from generating. It’s now taken care of and I’ve sent you a consolidated bill for the previous 2 months.