Payback of overpayments on swopping suppliers

Louisarose

Hi,

We are going to be investigating switching our gas and electric suppliers. The only concern I have is that we have been quite substantially overpaying and have quite a large amount in credit. The query is will we just automatically get paid back this amount when we change ?

Many thanks all

Sara

molerat

There is an interesting question. Some suppliers are very quick to pay back and others are not. Who is your current supplier so that others can share their experiences.

System

Louisarose wrote: »

Hi,

We are going to be investigating switching our gas and electric suppliers. The only concern I have is that we have been quite substantially overpaying and have quite a large amount in credit. The query is will we just automatically get paid back this amount when we change ?

Many thanks all

Sara

The simple answer is 'Yes'. Suppliers have 6 weeks to raise a Final Bill following a transfer of supply. Depending on the amount of the final credit balance, different suppliers have escalating approval processes. For example, it was reported here that one supplier could take up to 4 weeks to get a refund of more than £500 approved. In my experience, suppliers are pretty good at raising final bills and repaying any credit due.

That said, there is nothing to stop you contacting your old supplier with a meter reading and asking them for some of your credit back in advance of the final bill being raised.