Ofgem has issued a reminder to UK residents
Millions are being urged to check whether they are sitting on unclaimed cash.
Energy regulator Ofgem has issued a reminder that customers who have built up a credit balance on their account are entitled to ask for a refund if they believe they have paid more than they owe. The latest Ofgem figures covering the year to March 2026 show energy companies were sitting on £3.2 billion of customers’ money. It put the average credit balance for people paying by fixed monthly Direct Debit at £199.
The call to act comes as many families continue to watch every penny after years of soaring energy costs, with some customers unknowingly leaving hundreds of pounds sitting in their supplier’s account. A credit balance builds up when you have paid more for your gas and electricity than you have actually used.
This commonly happens because households spread their energy costs evenly across the year through monthly direct debits, paying more during the summer when energy use is lower so they have a buffer for higher winter bills. However, credit can also build up because suppliers have overestimated usage due to missing meter readings, customers have used less energy than expected, or because of payment timings.
Ofgem says customers with a live account can ask for a refund at any time, although households should consider whether they will need the money to cover higher winter bills before withdrawing it. The regulator also urged customers to submit regular meter readings, or use smart meters, to ensure bills accurately reflect their energy use and avoid unnecessary credit building up.
Switched supplier? You could still be owed money
Consumers who have switched energy supplier or moved home should also check they have received any money left on their old account.
Under Ofgem’s guaranteed standards, suppliers must:
- Send a final bill within six weeks of a switch.
- Refund any credit balance within 10 working days of issuing that final bill.
If they fail to meet these deadlines, customers are normally entitled to £40 compensation. If the compensation is not paid on time, suppliers could owe a further £40. The rules also apply where an estate is being settled after someone has died and money remains on a closed energy account.
How to claim your money back
If your account is still open, contact your current supplier and ask for a refund. They may request an up-to-date meter reading before processing the payment. If you have switched supplier, contact your previous energy company with your old account details or previous address so they can trace the account.
Customers who believe they have been wrongly refused a refund, or have not received compensation they are due, should first complain to their supplier.
Where to get help
Anyone unsure of their rights can contact Citizens Advice for free support.
- Citizens Advice energy helpline: 0808 223 1133
- Textphone: 18001 followed by 0808 223 1133
In Scotland, consumers can contact Advice Direct Scotland:
- Telephone: 0808 196 8660
- Email: energyadvice.scot
