Millions of Britons could reclaim £212 in credit from four energy giants

Millions of households across Britain could be owed money from their energy supplier after firms accumulated more than £3billion in customer credit balances.

Ofgem found that the average household paying by fixed direct debit now has around £212 sitting in credit — up slightly from £206 at the same point last year.

The figure applies to roughly 17 million homes.

More than half of households have emerged from winter with surplus money in their energy accounts, which can either be refunded or left in place to offset future bills.

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Ben Gallizzi, an energy expert at Uswitch, said many households would normally expect to have used most of their credit during the colder months.

“More than half of UK households are coming out of the coldest time of year with credit in their energy accounts,” he said.

He advised customers to keep around two months’ worth of payments in their accounts to help manage higher winter costs later in the year.

Energy prices are expected to rise again in July, increasing pressure on budgets.

Mr Gallizzi said households with larger balances may benefit from leaving part of the credit untouched to soften the impact of future price rises.

Energy suppliers operate different policies for returning credit:

• British Gas — may reduce monthly direct debits automatically if customers finish their plan year in credit, but refunds must be requested manually.
• EDF — uses credit to lower future monthly payments; customers wanting a refund must provide an up‑to‑date meter reading. The supplier may also contact customers if substantial credit has built up.

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• Ovo — allows refunds when accounts hold more than one month’s direct debit in credit, provided a meter reading has been submitted within the past 28 days.
• Octopus Energy — customers can request refunds at any time if they have supplied a recent meter reading and received a bill within the previous 14 days. The checks are designed to ensure customers do not fall into debt after withdrawing funds.

Ofgem said suppliers must ensure credit balances are “reasonable” and reflect customers’ actual usage, particularly as households prepare for another expected price rise this summer.

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