Households still feeling the financial wrath of soaring energy bills and council tax are being urged to complete one simple check that could result in an average refund of £200
Households could claw £100s back on their energy bills this month by making one simple check. While Brits across the nation are still feeling the financial wrath of ‘Awful April’ – which saw council tax, energy bills, and even the TV Licence soar – energy firms are holding onto an estimated £3.28 billion in customer credit balances.
Research by money-saving experts over at Nous.co found that 57 per cent of households think their supplier owes them money, but 47 per cent weren’t sure exactly what the balance on their account was. Across 2024, the average household credit balance was a staggering £215.
But, with a mild winter, it is even more likely that Brits will have built up credit – as their bills will be based on estimates driven by previous years’ usage. If you’ve been paying by Direct Debit, May is the perfect month to see whether you’ve built up credit, as you’ll likely start using less energy as the weather continues to improve.
READ MORE: Martin Lewis urges millions to get ‘50% boost’ on savings but there’s a catch
“No one should have a big credit balance built up in their energy account right now,” Greg Marsh of Nous.co said in a statement sent to the Mirror. “Most suppliers won’t automatically refund you if you’ve paid too much, and could be unfairly holding on to money that you’re owed.
“If you’ve got a traditional meter and haven’t submitted a reading in a while, you’ll be paying bills based on estimates that could be significantly out after an unusually mild winter. Energy companies know how hard it is to stay on top of this stuff, and hope that we just put up with paying more than we need to.”
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As previously reported, energy firms must follow ‘reasonable steps’ to make sure that your Direct Debit levels are fair and justifiable. If you’re in lots of credit, call your supplier up for an explanation.
Energy rules strictly state that suppliers must provide a refund – or explain ‘clearly’ why they won’t – if a customer requests a refund. If they don’t, you can make a formal complaint, and if it rejects it, escalate it to the Energy Ombudsman for free, which can adjudicate,” Martin Lewis’ MSE states.
Each energy firm has slightly different policies when it comes to issuing a refund. For example, EDF Energy requires customers to provide an up-to-date meter reading first, while British Gas says you can ask for a credit refund at any time. You can check your energy firm’s policy here.
Will my energy bill start to fall?
Following years of spiralling energy costs, the government has finally confirmed its ambitious plans to cut annual costs by £300 by 2030. Through its Great British Energy scheme, Labour has vowed to ‘harness clean energy’ and have ‘less reliance on volatile international energy markets’.
It has also pledged more funding for the Boiler Upgrade Scheme, which offers grants to support the transition from fossil fuel heating systems to heat pumps or biomass boilers. As previously reported, this would allow households to receive £7,500 towards an air source heat pump, £7,500 towards a ground source heat pump, or £5,000 towards a biomass boiler – which could knock £100 off annual energy bills.
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