Over 1.9 million UK households are owed an average of £128 per person, amounting to around £240m, due to unclaimed credit balances from closed energy accounts, according to the energy regulator Ofgem. The accounts were closed over the past five years, leaving outstanding credits totaling £240m that have yet to be claimed.
The issue stems from suppliers failing to contact customers with the correct details after account closure, leading to a significant amount of money being left unclaimed. Ofgem's director general, Tim Jarvis, warned that without this information, suppliers are unable to return the money to those due a refund.
Households who have moved in recent years are urged to check if they are owed any money from their previous account. The amounts could be as little as £5 or as much as £100, with some customers potentially receiving refunds of over £1,200.
The news comes as energy bill payers face an increasingly difficult winter, with the price cap for households paying by direct debit increasing to £1,755 per year. This rise is despite a 2% fall in wholesale prices over the summer, which has reignited concerns about affordability.
In addition to this issue, Ofgem announced plans to clear £500m of debt from around 195,000 people on means-tested benefits who have built up debt of more than £100 during the energy crisis. This scheme is expected to offer debt relief of approximately £1,200 per account or £2,400 for dual-fuel customers.
However, the regulator acknowledged that this measure will only make a small dent in Britain's deepening energy debt crisis, which has reached a record £4.4bn in unpaid bills as of June. The Office for National Statistics found that a record proportion of British households were unable to pay their energy bills by direct debit in April due to insufficient funds in their bank accounts.
The issue stems from suppliers failing to contact customers with the correct details after account closure, leading to a significant amount of money being left unclaimed. Ofgem's director general, Tim Jarvis, warned that without this information, suppliers are unable to return the money to those due a refund.
Households who have moved in recent years are urged to check if they are owed any money from their previous account. The amounts could be as little as £5 or as much as £100, with some customers potentially receiving refunds of over £1,200.
The news comes as energy bill payers face an increasingly difficult winter, with the price cap for households paying by direct debit increasing to £1,755 per year. This rise is despite a 2% fall in wholesale prices over the summer, which has reignited concerns about affordability.
In addition to this issue, Ofgem announced plans to clear £500m of debt from around 195,000 people on means-tested benefits who have built up debt of more than £100 during the energy crisis. This scheme is expected to offer debt relief of approximately £1,200 per account or £2,400 for dual-fuel customers.
However, the regulator acknowledged that this measure will only make a small dent in Britain's deepening energy debt crisis, which has reached a record £4.4bn in unpaid bills as of June. The Office for National Statistics found that a record proportion of British households were unable to pay their energy bills by direct debit in April due to insufficient funds in their bank accounts.
. It's like, how hard is it to check if you owe anyone anything from your old account? 
The fact that suppliers aren't even trying to contact customers with the correct info is just lazy 
.
. I mean, £1,755 a year is a lot of money for anyone, let alone someone who's already on means-tested benefits 
. We need more support for households struggling with their energy bills, not just token gestures 
. And let's be real, who needs £240m just sitting around collecting dust? Sounds like a perfect opportunity for some savvy investors to swoop in and make a tidy profit 
.
it's crazy how suppliers just 4got 2 contact customers after closin accounts...anyway, i think dis is a great op for people who've moved recently 2 check if they're owed any cash 
u never no what u might be missin out on! & good 2 hear about the £500m debt relief scheme 4 ppl on means-tested benefits 
I'm so annoyed with the way some energy suppliers just forget to contact people after closing their accounts, leaving them stuck with unclaimed credit balances! 
We need better customer service and communication from energy companies. It's not just about the money, it's about showing respect for customers' time and patience. 
Can't wait to see Ofgem make some changes to address this issue! 
Ugh, I'm so frustrated with the energy companies! They should be making sure these households get their money back after closing their accounts. It's not like it's rocket science 
. A quick phone call or email would've done the trick, but nope, they just left these people high and dry 
. And now we're facing a winter where energy prices are already sky-high 
. Like, come on, £240m unclaimed credits? It's just lazy management, if you ask me 
I'm seeing this news and my first thought is, "How many people are just chillin' with unclaimed credit balances from old energy accounts?" It's like, £240m worth of money just sitting there waiting to be claimed! 
️.
?! I mean, it's not like you'd even know about it unless someone else pointed out your debt balance 
I'm literally shocked how much ppl are owed from old energy accounts! Like, £128 per person is a small fortune 
and it could add up to like £100 or more! Some ppl might even get refunds of over £1,200 
and I wish someone would do something about the energy debt crisis ASAP 
It's like, we're already struggling with the price cap rising to £1,755 per year 
It's like they're giving ppl a little bonus at the end of the year 
And yeah, I can imagine how stressful it must be for households who have moved and didn't get a chance to claim their refund, so good job to them for remindin' everyone about this! 
. It's like, you close an account and then what? The money just disappears into thin air 
anyway, gotta make sure to check those old energy accounts if you've moved recently 
gotta check ur old energy accnt now 
and btw energy bills r getting soooo expensive this winta 