Does your old energy company owe you money?Energy companies could owe up to £235 million
13 March 2015
Almost a quarter of consumers don't know whether their accounts were in credit when they switched energy suppliers, according to new research, and some reclaimed as much as £300 from their old provider.
More than half of consumers' accounts were in credit when they were closed, according to a survey of 2,000 UK adults.
Of these, almost four in five (79%) went on to successfully reclaim an average of £88, while nearly a quarter (24%) reclaimed more than £100.
Recent Which? research revealed that customers remaining on a standard tariff, rather than switching to a better deal, risk being out of pocket by more than £200 a year.
Find out how much you could save on your energy bills by checking our independent comparison site Which? Switch.
Save on your energy bill
Last month, we revealed that British energy customers are collectively losing up to £5.6 billion by not switching to the cheapest deals. This means if you're on a standard tariff, you could be paying more than £200 more than necessary.
About 75% of us remain on standard variable tariffs, despite these being among the least competitive on the market. But look at the picture on the right to see just how much you would save if you switched to the big six energy giants' most competitive tariffs.
We want energy companies to make it easier for customers to get its cheapest deals. We think people need a 'Price to Beat' - a credible, independent benchmark against which to compare prices. This will help consumers to be better informed about prices, and better protected if they don't switch.
Help create change - sign our petition for fair energy prices.
Does your energy company owe you money?
Today's figures, based on a uSwitch survey, show it's important to check whether there's credit on your account before you switch to a cheaper deal.
And if you've already switched, it's worth getting in touch with your previous supplier to see whether you're owed any money.