Money Saving Expert Martin Lewis has urged all households to check to see if they are owed a refund from their energy suppliers as £240million is sat unclaimed
An unexpected winfall may be coming your way.
You could be owed hundreds without even knowing it – and could cash in on an unexpected refund according to Money Saving Expert Martin Lewis.
Households could be owed money from energy providers as £240million is sitting unclaimed. The expert said those who have changed energy providers in the last five years could have credit still sat in the old accounts, meaning money you didn’t even know you were owed might be there.
With as many as two million closed energy accounts in the UK – it’s always worth checking if you fall into this category. Ofgem said the majority of the closed accounts may only have a a few pounds worth of credit, there are some with more than £100 in.
READ MORE: Martin Lewis MSE says ‘quick check’ could save up to £175 as millions missing out
How to check if you’re owed a refund
It’s easy to check if you still have your log in details for your old energy account as you can simply log back in and check the balance. There you will be able to see if you’re due to receive some money back and if so, you can simply request it into your bank account, LadBible reports.
But if you don’t know your log in anymore, you can just contact the supplier directly – either by phone, online or even direct messaging on social media. All you will need to do is provide the address on the account, your name and contact details – and sometimes your old account number if you have it. If you can’t remember who you were with, it’s worth checking your emails and searching names of energy providers to see if you have any old correspondence with them.
However Martin Lewis urged people to be mindful about people contacting you claiming you are owed credit – as energy companies will not contact people directly.
Why are people owed credit?
You can be owed credit for a number of reasons. If you closed the account because you were moving house, and didn’t update the energy provider on your new address or contact details, they may have been unable to contact to organise the refund. It could also be that you closed down the direct debit before the refund was able to be issued, in which case you’ll need to take action.
It comes after millions of people are missing out on a key discount that could be worth thousands of pounds. Martin Lewis says many are not getting help they are entitled to because they are simply not asking for it.
Council tax can be one of the biggest bills households face on a yearly basis, with increases due in April but some households may be paying the full bill unnecessarily. There are a number of ways to reduce your council tax bill depending on who is living in the house but there is one catch – these aren’t automatically applied.
He revealed in late 2024 that around 2.25 million households on a low income were believed to be eligible for the discounts and reductions but were missing out simply because they hadn’t claimed it. This could add up to thousands of pounds in savings each year for some households.
Martin urged during his ITV show: “People think if they’re on Pension Credit or Universal Credit they’ll get everything that’s coming to them. You don’t. The council tax benefit, even if you’re getting Universal Credit, you must apply separately to your council to get it.
“That is why so many are missing out. If you are on a lower income, look at your council’s policy and see if you can apply to get this money. It’s crucially important.”
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