Thousands of Britons who have relocated homes over the last five years could be entitled to reclaim money from their former energy suppliers, according to recent expert advice. It is estimated that millions of pounds remain unclaimed in closed accounts, with some households potentially owed sums exceeding £100. The process to check for any outstanding credit is described as remarkably straightforward and quick.
Why Refunds Go Unclaimed
Energy UK, the trade association representing energy suppliers, has indicated that while most credit balances are automatically refunded, issues arise when customers' contact details are outdated. This can lead to delays or the money being entirely overlooked. Tim Jarvis, director general for retail at Ofgem, emphasised the point, noting the administrative burden of moving house.
"Moving house requires a lot of life admin - and it's understandable that some things will be missed. But with almost two million closed accounts currently in credit, the message is clear - if you've moved in the last five years, reach out to your old supplier, provide them with the correct information, and you could be due a refund," said Jarvis.
Potential Sums Involved
Although many individuals might only be owed a few pounds, the Express highlights that some families could reclaim hundreds or even thousands of pounds. This makes it a worthwhile exercise, particularly in the context of rising living costs and high energy prices.
How to Claim Your Refund
Energy UK recommends that customers take the following steps:
- Review any letters or emails from previous energy suppliers.
- Contact the supplier directly if you suspect there is outstanding credit on a closed account.
- Keep your direct debit active until the final bill has been fully settled.
Under Ofgem regulations, suppliers are obligated to issue a final bill within six weeks and process any refund within ten working days. Delays are frequently attributed to incorrect or missing contact information.
Ofgem's Guidance and Future Plans
Ofgem has published advice on its website, urging customers to log into old accounts if they still have access to update their details. If access is not possible, they should contact the supplier directly. The regulator stated:
"We are working closely with Energy UK and energy suppliers to make sure this money is returned to customers quickly."
Furthermore, Ofgem is considering regulatory changes to improve billing accuracy, which would help prevent consumers from accumulating large credit balances in the future. They are also exploring options to regularly publish data on the number of closed accounts that still hold credit.
The Broader Context
With energy costs continuing to soar, securing even a modest refund could provide meaningful financial relief for many households. This initiative underscores the importance of proactive financial management during life transitions like moving home.
