Octopus energy or other suppliers may owe refunds to many Businesses

jayzshah

Octopus energy or other suppliers may owe refunds to many businesses.

We moved to Octopus energy in 2022 and they took an advance payment of £355 as a secutiry deposit to be refunded on leaving.

This deposit was issues as an invoice and on payment vanished from their system and did not show as held as deposit.

Two months back we moved to another supplier as their rates were better. Octopus forgot to refund the money back to us. Fortunately we had in our books as deposit owed from Octopus. Today I called them and asked about the deposit and they initiated the refund immediately.

There will be thousands of businesses who may have paid a advance payment or deposit to their suppliers and due to poor accounting or not remembering might have not claimed back this deposit on moving to the new suppler and hundreds of thousands or if not millions may be due back to these businesses over past years.

It may be worth checking your first invoice from them or logging into their portal and see if your business is owed money.

I did mention this flaw to the agent and he said its unfortunate that their systems do not allow them to show it as a deposit and confessed that they may be owing lot of money to businesses who have forgot to call and claim this back.

jayzshah

Just following up from our call, I have now began the process for the deposit refund of £355.11.
Once this has been accepted, it will take 7 - 10 working days to process.

I have also issued you the last invoice which you should have received via email.

If you have any further questions, please get in touch and I will be more than happy to help.

Kind regards,

Octopus Energy Ltd is a company registered in England and Wales. Registered number: 09263424. Registered office: UK House, 5th Floor, 164-182 Oxford Street, London, United Kingdom, W1D 1NN

MP1995

This appears to be more of a domestic users forum but hopefully others in the same boat will read this.

Most accountants should pick this up though and it marked appropriately.