What’s in this guide?
Did you know you could be owed over £200 by one of your previous energy suppliers?
Regardless of how much time has passed, you could still claim even if it’s been years.
This guide will tell you everything you need to know about your energy credit claim, including what it is and how you can claim money back.
Let’s dive in and take a closer look.
What is credit?
Sometimes, you may see on your bill that you are ‘in credit’ to your energy supplier.
What does this mean?
It means that instead of you owing your energy company money (debit), they owe you (credit).
When you switched supplier in the past, most energy companies wouldn’t pay you this ‘credit’.
Instead, they would keep the money and sometimes claim that they couldn’t get in touch with you because you moved home.
How much could you claim?
Depending on how many times you switched in the past, you could potentially be owed £100s in unclaimed credit.
According to reports, in 2018 it is estimated that there are millions of homes owed approximately £1.3 billion collectively in total.
One in 10 has over £200 to reclaim!
In September of 2014, the primary energy suppliers came together to launch a campaign named ‘My Energy Credit’, which has an aim to give credit back to their former customers.
Let’s take a closer look at ‘My Energy Credit’ and find out more about the campaign.
My Energy Credit
My Energy Credit, formed in 2014, aims to educate customers regarding how they could claim back on money owed to them by their energy supplier.
The website features a home page telling you what it is and what it’s for, and at the bottom, you can find logos of the major energy suppliers; EDF, British Gas, Npower, Eon, SSE and Scottish Power.
When you click on one of these logos, such as Npower for example, you’ll find information concerning what you’ll need to claim.
To claim back from Npower, this is what you need:
- Address that you’re requesting for including the postcode
- A recent bill
Then you can ring:
- 0800 073 3000
- 0330 100 3000
How can I find out if I’m in credit?
If you manage your bills online, finding out if you’re in credit could be as easy as logging in and checking your balance.
In the circumstance that you don’t have access to online billing, you can also check out your latest paper energy bill.
This should tell you whether you’re in debit (owe your supplier) or credit (your supplier owes you).
The big six now pay the credit back automatically. However, you should keep in mind that for smaller suppliers you may need to chase them up about it.
Am I in credit to my previous supplier?
The big six pledged to pay back the approximately £153 million in credit to their former customers in 2014, so take a look at My Energy Credit to see how you can claim back on your outstanding credit.
Why am I in credit?
As bills are often estimated, sometimes your energy supplier could be charging you a bit more than necessary for your energy.
It can be a simple error like assuming you have more people living at home than you do, or if you run a price comparison using the wrong address for example.
You can claim this credit back, so there’s no need to panic if you see the credit on your bill.
What if my supplier refuses to pay me back?
Even in a worst case scenario, you can raise the issue with the Energy Ombudsman.
Can I compare and switch when I have credit?
Yes, you can! You should take a look at how you can claim your credit back from your supplier, then take a look at the a comparison tool to see how much you could be saving.
Did you know that you could be saving up to £500 on your energy bills every year?