Yahoo News Octopus, British Gas, E.On and EDF customers could claim £210 energy refund
More than half of the major energy companies' customers could be able to claim back money on their bills, as it emerges that millions of people are sitting on growing piles of credit. This includes Octopus Energy, British Gas, Scottish Power, and other big North West suppliers.
On average, most households are owed around £210 each after building up credit through winter energy bill payments. With the energy price cap falling to £1,690 from the start of this month, people struggling with the high cost of living could benefit from withdrawing this winter nest egg.
This money does not belong to the big six energy companies but their customers and can be used to help with the higher cost of heating in winter. However, with the energy price cap forecast to fall again from July, to around £1,463 for the typical household according to the latest estimates, cash-strapped customers could ask for a much-needed windfall.
READ MORE: Ofgem told rules on standing charges 'need to change' as energy bills soar
Will Owen, energy expert at Uswitch.com, said: “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 above the national average for households in energy credit, with 57 per cent of households sitting on an average windfall of £222.91. Meanwhile, 16 per cent of households in the city are in debt with their supplier to the tune of £162 on average
Overall, credit is £3.4 billion lower than last year, which may be due to energy bills being higher than the previous winter when households received £400 government support towards power bills. One in seven consumers have balances over £300, and one in 20 have more than £500 – but only a quarter of consumers plan to ask for it to be refunded.
READ MORE: Martin Lewis' tips to reclaim energy bill cash after person gets £1000 back from supplier
Customers with all of the big six should check if their account is in credit, as they could receive a nice lump sum. Below are the average amounts that each household is in credit, or in debt, at each of the major suppliers.
Supplier | Average credit | Average debt |
Octopus Energy | £233.22 | £132.50 |
British Gas | £216.40 | £247.90 |
E.ON | £172.57 | £193.48 |
EDF Energy | £200.38 | £224 |
OVO Energy | £200.16 | £112.90 |
Scottish Power | £241.75 | £138.88 |
Average debt per household has decreased slightly from £234 last year, although the number of homes in debt has risen by 167,000.
USwitch's Will Owen continued: "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.”
