Thousands who moved home in the last five years could be owed cash from old energy accounts, with some households entitled to more than £100 in unclaimed refunds.
Get in touch with your old suppliers and check how much you could be owed today(Image: Matt Cardy, Getty Images)
A potential windfall awaits thousands of Brits who’ve moved house in the last five years, with unclaimed cash from their previous energy accounts up for grabs. Experts warn that millions of pounds remain untouched, with some households potentially due over £100.
Energy UK, the voice of suppliers, assures that most balances are typically refunded automatically. However, outdated contact details can cause refunds to be delayed or completely overlooked.
The Mirror has the scoop on how to check and claim this unexpected cash boost.
“Moving house requires a lot of life admin – and it’s understandable that some things will be missed,” said Tim Jarvis, director general for retail at Ofgem.
“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.”
While many may only be owed a few pounds at the very most, some households could pocket hundreds or even thousands of pounds, making it well worth a look. Energy UK suggests customers sift through old letters and emails from former suppliers and get in touch directly if they suspect they have outstanding credit.
Keeping your direct debit active until the final bill is squared away is also sound advice from the organisation.
Under Ofgem regulations, energy suppliers are required to issue a final bill within six weeks and process any refund within 10 working days. Delays are frequently caused by missing or incorrect contact details.
In a statement published on its website, Ofgem said: “We are working closely with Energy UK and energy suppliers to make sure this money is returned to customers quickly,”.
The regulator advised: “Sign into the old account if you still have access and update your details. If you do not have access, contact your supplier directly.
“We want to change the rules to make bills more accurate. More accurate bills will help protect consumers from building large credit balances in the future. We are also looking at sharing data regularly on how many closed accounts still have credit left in them.”
With energy costs continuing to climb, it’s crucial not to overlook any potential refunds – even a modest amount could help ease the burden of the escalating cost of living.