Payment adequacy ‘Always On’

Nov 29, 2023

Written By

Richard Dixon

Head of Product, Meter to Cash

Share Post

With the continued stress on household bills, it is critical suppliers ensure customers are paying the right amount and proactively assess changes to their fixed instalments.

Why now?

ENSEK’s support for fixed Direct Debit customers has traditionally followed Ofgem policy rules regarding payment adequacy checks, much like other suppliers. This means we would carry out a full review of a customer’s Direct Debit payments every 12 months, backed up by an interim check every six months on request.

Recent energy market volatility coupled with increased cost of living, only partially offset by government support measures, is leading to increased pressure on the ability of customers to pay. To meet this challenge, ENSEK is rolling out a best-in-class approach to monitoring Direct Debit payments.

What are we doing?

As an SaaS-based software supplier, our real-time event-based technology is perfectly positioned for continual monitoring of regular payment schedules, ensuring customers are protected from any significant over or under payment.

What does this actually mean?

Our platform will provide continual proactive monitoring of fixed Direct Debit accounts, tracking billing, payments and top-up estimates to understand a customer’s likely debit or credit position at the end of their 12-month payment schedule. For example, a configurable daily or weekly review function responds to actions such as actual readings or changes in expected payments.

Additionally, our platform monitoring will automatically notify the customer when they are tracking away from their original planned payments with instant updates via customer mobile apps and portals, automated follow up activity and recommended changes to the monthly Direct Debit amount. This will put the customer in full control of their energy accounts and will put an end to nasty payment surprises.

Why is this so transformational?

This new approach tracks lead indicators, minimising the risk for customers who would otherwise find themselves in excess credit or debit at the traditional annual review point.

Suppliers using our method can take advantage of configurable thresholds to automate key actions providing support to customers moving away from their expected position, helping them understand what has changed, why current payments are higher or lower than needed, and offering key advice helping them to manage their position and stay on track.