Many people know what it’s like to struggle with high energy costs, often switching to save cash and always keeping an eye on the best deals. What you might not know is that your previous or current energy provider could owe you money if you’ve switched suppliers or moved house in the past six years, or even if you have stayed with the same supplier but have overpaid (when you pay the same amount by monthly direct debit, regardless of how much energy you’ve used).
How to get a refund
While the bigger energy suppliers such as Npower, Scottish Power and British Gas will automatically issue an annual refund without you having to chase it up, other suppliers may make you put in more effort.
A recent paper or online bill will show whether you’re in credit. You can also ring your supplier with an up to date meter reading and they can find out for you. Then you can ask for a refund.
It’s useful to know that any payment due to you, which can take at least 10 days, may result in you being entitled to an extra £30 late payment.
While it may make sense leaving your account in credit to cover the winter months if you’re still with the same energy supplier, there is no reason at all to stay in credit if you’ve switched to another company.
Where does the money come from?
Suppliers have set aside money to repay you. After all, it is your money. You wouldn’t allow a supermarket to take twice the cost of your shopping, would you? In the same way, it makes sense to claim back any extra money you may have overpaid on your energy bills.
With the average customer being owed £50, it’s better in your pocket than in theirs.
Still unsure if you’re owed anything?
We at Manage My Energy can help you understand exactly how much you are owed, and help you get a refund. Then we’ll be more than happy to find the best deal for you.
Simply complete the form HERE and we will be in touch.
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