Last year, the big six announced plans to help make it easier for former customers to claim back any credit left in their energy account at the time they switched. Six months on, new research from uSwitch found that there is still up to £235 million in unclaimed credit sitting around in these closed accounts.
With the amount of consumers switching energy supplier increasing due to major government campaigns, the number of closed accounts is increasing as well. Often, those accounts are closed while in credit — on average £88 worth.
Consumers in the dark about their credit
The recent uSwitch survey of 2,000 adults in the UK found that 23% of energy switchers simply didn’t know whether their old account was in credit or not. Of those who did know their situation at the time of switching, more than half (52%) did in fact have a credit owed back to them.
Of these people, 79% had succeeded in reclaiming that credit of £88 on average.
How to claim your energy credit
If consumers think they may be owed money from a previous supplier, they simply need to contact that supplier. There is no time limit on claiming back your credit, but customers do need proof of identity and any former address information. Old account information (such as an old bill) is helpful but not required.
Contact your formers supplier using the following links:
- British Gas
- EDF Energy
- Scottish Hydro
- Scottish Power
- Southern Electric
You can also contact My Energy Credit helpline on 0370 737 7770 or visit their site at www.myenergycredit.com.
Is more being done to help consumers?
While the process is in place to make claiming energy credit as straightforward as possible, uSwitch Energy Expert Tom Lyon says more can be done to raise awareness of the credit:
“It’s fantastic to see so many households successfully reclaiming what is rightfully theirs, yet almost a quarter could still be missing out on balances left languishing in dormant accounts.
“With six in ten people admitting they are rationing their energy use to save money, any unclaimed funds could go a long way to helping pay this winter’s bills. We urge the industry to continue with its campaign to help reunite as many consumers as possible with money from old accounts.
“It’s particularly encouraging to see that almost two thirds of consumers who claimed money back said they found the process easy.
“Consumers should check with any previous suppliers to see if they’re due a refund. If you’re about to switch, make sure to take meter readings and give them to both companies for a final statement. This will ensure that your old account is closed properly and you receive any refund due.”