Energy companies raking in millions from overestimated bills

wakeupalarm

We've been saying it for years that energy companies are deliberately building up huge credit balances to pocket the interest and now we have the revelation from a whistle-blower that energy companies have been raking in millions from overestimating bills and pocketing the interest

http://www.theguardian.com/money/2013/oct/26/british-gas-caroline-flint-credit-windfall

If you have a credit balance on your account demand your money back now.

daveyjp

Where do you think the money to pay the DD discount comes from?

Nada666

Money in your bank 0.1 or 2% interest at max, that is if you keep it there and don't spend it. Credit in your utility account 6% off your bills. And if you are that bothered or careful you can easily avoid being in credit.

And if you don't bother to check you receive your balance after switching or flitting then that is your silliness.

spiro

You only get an estimated bill because you can't be bothered to submit readings. Claiming a credit balance back is stupid if its in the autumn because you need to build it up to cover the winter consumption. Its reviewed on an annual basis and I would rather be £50 in credit than £100 in debit.

spot1034

Isn't this much the same as dormant bank accounts, where the account holder cannot be traced? It doesn't sound to me as if they are actually taking the money without trying to trace the rightful owner. What are they supposed to do in these circumstances?