In credit with energy supplier

G1D

Hi,
Does anyone know what our rights are with regards to being in credit with your energy firm. We are currently £400 in credit with our provider and have asked for a refund. In fact we have selected an option to have an automatic refund of any amount over £75 credit to be refunded, but this simply doesnt happen, and thier being awkward (well refusing) to refund the amount on request.
What are our rights with regards to getting this credit back?
Thanks,
G.

System

Hi. Your rights depend on a number of factors. Energy companies have different terms and conditions. When you say £400 in credit is this based on an actual bill? For example, my gas account states that I have a credit balance of £187 but I know that a bill for about £75 is due very shortly. In other words, without more information it is difficult to give you good advice.

G1D

Hi Hengus,
well we pay by direct debit, (a payment has just gone out), we had built up a credit of nearly £500 before we payed the bill but were now in credit still by well over £400. Basically we're paying more than were actually using (which was the intention before winter) but now we dont need such a big buffer... if that makes sense? They've even had the cheek to increase our direct debit recently even though we changed to a cheaper tarrif!

System

Try this:

http://www.moneysavingexpert.com/utilities/reclaim-energy-bill-refunds

G1D

Thanks for your help. I'm not gonna let them keep it thats for sure!:)

jbuchanangb

The way I would deal with this would be to calculate your expected energy costs for the next 12 months at current tariff, using the last 12 months as basis. Then deduct the £400 credit, which gives you the amount you will need to pay over the next 12 months to break even in a year's time. Divide that amount by 12, and then call the energy supplier and offer to change your direct debit to the new amount. This has always worked for me.

In a year's time the supplier will do a review, and you will need to increase your monthly payment to a new level.

G1D

Might just try that, thanks jbuchanangb.