What happens to my credit if I change Energy suppliers?

Kaz22

Do I get a refund or is it ported across to my new supplier? I’m over £200 in credit, my monthly DD is currently £98/month for Duel Fuel with British Gas & I’m able to reduce my tariff by £30/month, switching to a two-year fixed with EDF.

Reed_Richards

See https://www.ofgem.gov.uk/are-you-owed-money-your-energy-bill#:~:text=Credit on a closed account,-We've put&text=Suppliers have:,automatically refund a credit balance
Read the section on "credit on a closed account".  You'll see that after a while you get a refund.

Netexporter

And don't cancel you old direct debit, until you've got the refund, otherwise they'll have to send you a cheque, which is a pain, these days.

la531983

Kaz22 said:

Do I get a refund or is it ported across to my new supplier? I’m over £200 in credit, my monthly DD is currently £98/month for Duel Fuel with British Gas & I’m able to reduce my tariff by £30/month, switching to a two-year fixed with EDF.

Are you actually comparing unit rates/standing charges to determine its cheaper, rather than the monthly contribution to a pot to pay the bill from?

p00hsticks

When did you last get a bill from BG ? Bear in mind that in BG terms the 'credit' is only the pot you have built up since the last bill was settled ready to pay the next one. When you close/switch the account, there will be a closing bill produced which may use up much if not all of  the credit. 

bob2302

Netexporter said:

And don't cancel you old direct debit, until you've got the refund, otherwise they'll have to send you a cheque, which is a pain, these days.

When I switched from Outfox the Market, they sent an email suggesting I cancel the DD, and I did. Shortly after, an email came from Octopus recommending not to cancel it. In the end the credit was paid into my account without the DD.

I wondered at the time whether OtM were supposed to have deleted my account details after setting-up the DD.

Netexporter

When I left OFTM, years ago, I had to keep reminding them to pay back my credit. IIRC I still had the DD in force, so got paid directly.

bob2302

Netexporter said:

When I left OFTM, years ago, I had to keep reminding them to pay back my credit. IIRC I still had the DD in force, so got paid directly.

As I said, though, I didn't have a DD in place and still got it credited directly.