Families sitting on billions in energy credit told check now

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Millions of households across the UK are holding billions of pounds in unused energy credit, prompting experts to urge customers to review their accounts as energy prices continue to place pressure on family budgets. New research from Uswitch reveals that approximately £3 billion in surplus credit is currently stored on energy accounts, with the average household having nearly £200.

This credit often accumulates during warmer months when energy consumption decreases but monthly direct debits remain unchanged to spread costs evenly throughout the year.With winter behind us and bills still high, Gordon Wallis, renewable energy expert at heating oil supplier Your NRG, advises consumers to check their balances. He said: “Many customers don’t realise they’re effectively lending money to their energy supplier.

If you’ve built up a significant credit balance and your usage has dropped, now is a good time to take back control of your payments.” Despite around 15 million households being in credit, with some holding over £300 or even £500, only 31% intend to request a refund, missing an opportunity to ease monthly expenses during the ongoing cost-of-living crisis.

The data highlights regional variations, with households in Edinburgh holding the highest average credit at £224, while those in Belfast have the lowest at £127. Fixed direct debits, where the payment amount stays the same each month, are more likely to result in credit build-up, with 63% of fixed deal customers in credit compared to 51% on standard variable tariffs. Gordon added: “We often recommend fixed payments for budgeting purposes, but they do require occasional review. If your energy use has fallen but your monthly payments haven’t been adjusted, you could end up overpaying significantly throughout the year.”

Energy experts also stress the importance of submitting regular meter readings to avoid estimated bills, which can inflate charges. If an energy company refuses a refund or fails to provide a clear explanation, Ofgem rules allow for fines to be imposed. Gordon said: “Simple steps like checking your credit balance, updating your meter readings, and adjusting your monthly payment to reflect actual usage can help keep your bills fair and manageable. And if your supplier isn’t playing ball, don’t be afraid to challenge it. The system should work for you – not the other way around.”