Energy customers in line for direct debit refunds

[maureenho]

Energy customers in line for direct debit refunds

    By Caroline Cassidy | Feb 17th 2014

Millions of British consumers who pay their household bills by direct debit are in line to receive a refund from their energy suppliers, after it was announced yesterday that five of the 'Big Six' will pay money back to those who are in credit.

A recent investigation revealed that, with 13 million British households paying a fixed sum by direct debit each month, many are overpaying during the low-usage summer months, yet energy companies simply keep hold of the cash, which is estimated to be up to £2 billion.

Industry experts concluded that firms were thereby making up to £36 million a year in interest. Consumer anger led to a summit between energy firms and ministers back in November. Now five companies have agreed to refund any account that is in credit by more than £5, and to review customer accounts every six months.

Energy minister Greg Barker told the Daily Mail: "This is an excellent result for consumers worried about energy prices, and this is a good step towards restoring trust in the majority of companies. We have still a lot more work to do, but this shows Coalition ministers are capable of delivering."

So far, the only one of the Big Six not to have agreed to refunds is npower, and Mr Barker encouraged consumers to "vote with their feet" and switch suppliers if the firm refused to follow the example of its competitors.

A spokesman for npower told the Mail: "We're looking at this suggestion but we need to be sure it reflects what our customers want. Our research strongly suggests customers want to be given a choice between a full refund today and keeping their direct debit payments down tomorrow."

He added: "However, we do automatically refund credit balances of over £60, and customers in credit can request and receive a refund at any time."

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[wendy]

wonderful to read.

[maureenho]

I've just checked my Gas and Electricity account and between both I'm over £300 in credit.


I couldn't add the URL as I was in my account when I saw this
Energy prices have reduced
Gas and electricity prices have been reduced from 1st January 2014. For Dual Fuel customers this will be an average cut of £41[1] a year. The energy you use from 1st January will be charged at our new lower prices, and this will be reflected in the next bill you receive.

    This follows the Government’s decision to make changes to the Energy Company Obligation (ECO) and an agreement to put off some electricity distribution costs until March 2015.
    This price cut is across all our tariffs – including fixed term ones.
    A £12 rebate for all electricity customers to offset the cost of the Warm Home Discount Scheme has been introduced by the Government payable in both autumn 2014 and 2015.

[Rosalind]

Great news  ju098

[chenrezig]

Just my luck, I am with nPower