Households could boost their bank accounts with a simple check of their energy accounts, as suppliers like British Gas, Octopus, and Eon may owe them money. Customers who pay by direct debit often build up credit on their accounts to cover bills throughout the year, but if this credit becomes too high, they can request a refund.
How Energy Credit Works
Energy suppliers set monthly direct debit payments based on estimated annual usage. This means customers often pay more than they need to during warmer months, building up credit to offset higher winter bills. However, if the credit balance grows excessively — for example, over £500 — customers can ask for some of it back, such as £200, to give themselves a financial boost.
When to Check Your Account
Spring and summer are ideal times to check your energy account online, as households start using less heating and credit accumulates. Citizens Advice recommends leaving some money on the account to cover higher costs in winter, but if you have surplus credit, you can request a refund at any time.
A spokesperson from Citizens Advice explained: "If you pay your energy bill by direct debit, you might end up being ‘in credit’ with your supplier - this means that they owe you money. The amount you pay each month is an estimate based on how much energy your supplier thinks you’ll use over the whole year. You’ll sometimes be owed money because you’ve used less energy than you’ve paid for."
Considerations Before Claiming
Before claiming back credit, consider whether you will face higher energy bills in the coming months and whether you can manage without the extra credit. It is generally advisable to keep enough credit to cover winter costs, but any excess can be reclaimed.
Energy customers are encouraged to log into their online accounts to check their credit balance and, if appropriate, request a refund directly from their supplier. This simple step could provide a welcome cash injection for many households.
