Does Your Energy Provider Owe You Money?

If you’re planning on switching energy providers in the new year (which can save you a lot of money if your tariff is coming to an end and you’re about to be moved to your supplier’s standard rate), make sure that you don’t have any credit on your account before you make the move.

New research from Gocompare.com has found that millions of homeowners who are in credit on their utility accounts are owed, on average, £86.60 by their supplier – which means that energy providers are currently profiting from £1 billion in overpaid bills.

The company has also found that 66 per cent of homeowners have a positive balance on their electricity and gas accounts – so check this if you are about to switch suppliers.

Gocompare.com’s Ben Wilson commented, saying: “The onus is totally on the customer to push for a refund as the automatic review process often only happens once a year and is dependent on your provider having a meter reading. Customers can request a ‘manual credit refund’ at any time, but again, it will require a meter reading and often you need to insist on a refund or ask for your direct debit to be reduced. If you think your direct debit payment has been set too high, contact your supplier, tell them your meter reading and ask them to review the arrangement based on your actual usage.”

The new year may well be a good time to switch since further research from the price comparison site has just revealed that 33 fixed energy deals will be coming to an end this month – so affected households will see bills climb by an average of 29.65 per cent.

For electrical services in Cumbria, get in touch with us today.