Millions of households are sitting on a pile of energy credit, totalling £3billion, according to new research.
Uswitch says the average customer has accumulated nearly £200 in .
It’s normal for customers to build up credit during the warmer months, as it helps cover higher energy use during the colder months.
This happens because monthly are usually calculated by your energy company.
They estimate your for the year and divide the total into 12 equal monthly payments.
However, around 15 million households still hold a credit on their energy account despite winter ending.
Uswitch's findings reveal that households on fixed energy deals are more likely to be in credit (63%) compared to those on standard variable tariffs (51%).
Furthermore, 11% of consumers have credit balances exceeding £300, and 4% have over £500.
Despite these substantial sums, only 31% plan to request a .
The research also highlights regional variations in credit balances. tops the list with an average credit of £224 per household, while lags behind at just £127.
, founder of MoneySavingExpert.com, issued a warning last week, advising customers with more than to consider requesting a refund from their supplier.
Requesting a refund from your supplier is easy.
How do I request a credit refund?
First, make sure your energy firm has the most up-to-date meter reading.
If your reading doesn't match the energy use they have down for you, chances are they'll want to update your monthly as you may not be paying the right amount anyway.
But if your are up-to-date and f you've been in credit for more than one month ask your energy firm to return the funds.
Each energy supplier has its own process for customers wishing to get a credit refund.
For example, rules state that it will always hold a £75 energy credit on live accounts.
The supplier will only refund you if there's £5 or more left over after it's put a £75 credit towards your bill.
Customers can request a refund by logging into their online account.
customers can request a refund if their credit is at least £25 higher than one month's direct debit.
After submitting a meter reading to your online account, customers should head to the payments page and click apply for a refund.
Check with your energy provider to find out how to request your back.
We've previously – so check exactly how you can request a refund.
If your supplier won't offer a refund or you think that your direct debit is set too high, you can also challenge your bill.
