More than half of the main energy firms' customers may be eligible to claim refunds on their bills, as it is revealed that millions of individuals are sitting on rising heaps of credit. This comprises Octopus Energy, British Gas, Scottish Power, and other major North Western suppliers.
Energy Customers Could Pocket £210 Refund After Winter Credit Accumulation
On average, most homes are owed approximately £210 each after accumulating credit through winter energy bill payments. With the energy price cap dropping to £1,690 at the beginning of this month, people struggling with the high cost of living may profit from withdrawing their surplus.
The money in question does not belong to the big six energy providers, but rather to their customers, and it can be used to offset the higher winter heating costs. Nevertheless, with the energy price cap expected to decrease again in July to roughly £1,463 for the average home, cash-strapped clients may seek a much-needed windfall.
Will Owen, energy expert at Uswitch.com, stated: “Despite the expensive winter for energy bills, more than half of UK households are exiting winter with credit on their accounts. This may be because households were spending more on energy than the previous winter, as they were not benefitting from any government bill support this time around.
“In recent years, when bills have been so high and unpredictable, it has been a good idea to keep a lot of credit with your energy supplier.
“However, the fall in prices this spring means that consumers with excessive credit may want to consider reclaiming some of it. If you have a high credit balance, you may want to ask your supplier to check that your direct debit is set at the right level for the amount of energy you use.”
Manchester has slightly higher energy credit rates than the national average, with 57% of families receiving an average windfall of £222.91. Meanwhile, 16 percent of homes in the city are in debt with their provider for an average of £162.
Overall, credit is £3.4 b lower than last year, which could be attributed to higher energy expenses than the previous winter, when households received £400 in government assistance for power bills. One in every seven consumers has a balance of more than £300, and one in every twenty has more than £500; nevertheless, just a quarter of consumers intend to request a refund.
Customers Invited to Check Their Bank Accounts for Energy Supplier Refunds
Customers serviced by all six major energy suppliers should check to see if their accounts are in credit, as they may be eligible for a large lump amount. The average amounts of credit or debt each household has at each of the major suppliers are listed below.
| Suppliers | Average credit | Average debt |
| Octopus Energy | £233.22 | £132.50 |
| British Gas | £216.40 | £247.90 |
| E.ON | £172.57 | £247.90 |
| EDF Energy | £200.38 | £224 |
| OVO Energy | £200.16 | £112.90 |
| Scottish Power | £241.75 | £138.88 |
The average household debt has reduced marginally from £234 last year, but the number of indebted homes has increased by 167,000.
USwitch's Will Owen added: “Although falling energy bills is good news, they are still high by historic standards and unfortunately the number of people in debt has risen slightly.
“It remains important that those who do owe money to their suppliers continue to be given the support they need, and we recommend that you contact your provider if you are worried about your energy debt.
“To ensure you are being billed accurately, make sure you submit regular meter readings to your supplier if you do not have a smart meter.”