UK households could be owed £65 payout from energy suppliers. (PA/Canva) An average of £65 could be owed to households in the UK under new proposals limiting the amount of customer credit energy suppliers can hold. Ofgem, the regulatory body for energy suppliers in the UK, is consulting on plans to stop firms from holding on to customers’ money when not necessary. The move comes as findings saw as much as £1.4 billion in surplus credit was held in company accounts in October 2018. Customers who pay by fixed direct debit pay the same amount each month based on their estimated consumption. They typically build up a credit balance during the summer when their energy use is lower and then draw down on this credit during winter.
UK households could be owed £65 payout from energy suppliers. (PA/Canva) An average of £65 could be owed to households in the UK under new proposals limiting the amount of customer credit energy suppliers can hold. Ofgem, the regulatory body for energy suppliers in the UK, is consulting on plans to stop firms from holding on to customers’ money when not necessary. The move comes as findings saw as much as £1.4 billion in surplus credit was held in company accounts in October 2018. Customers who pay by fixed direct debit pay the same amount each month based on their estimated consumption. They typically build up a credit balance during the summer when their energy use is lower and then draw down on this credit during winter.
UK households could be owed £65 payout from energy suppliers. (PA/Canva) An average of £65 could be owed to households in the UK under new proposals limiting the amount of customer credit energy suppliers can hold. Ofgem, the regulatory body for energy suppliers in the UK, is consulting on plans to stop firms from holding on to customers’ money when not necessary. The move comes as findings saw as much as £1.4 billion in surplus credit was held in company accounts in October 2018. Customers who pay by fixed direct debit pay the same amount each month based on their estimated consumption. They typically build up a credit balance during the summer when their energy use is lower and then draw down on this credit during winter.
UK households could be owed £65 payout from energy suppliers. (PA/Canva) An average of £65 could be owed to households in the UK under new proposals limiting the amount of customer credit energy suppliers can hold. Ofgem, the regulatory body for energy suppliers in the UK, is consulting on plans to stop firms from holding on to customers’ money when not necessary. The move comes as findings saw as much as £1.4 billion in surplus credit was held in company accounts in October 2018. Customers who pay by fixed direct debit pay the same amount each month based on their estimated consumption. They typically build up a credit balance during the summer when their energy use is lower and then draw down on this credit during winter.
UK households could be owed £65 payout from energy suppliers. (PA/Canva) An average of £65 could be owed to households in the UK under new proposals limiting the amount of customer credit energy suppliers can hold. Ofgem, the regulatory body for energy suppliers in the UK, is consulting on plans to stop firms from holding on to customers’ money when not necessary. The move comes as findings saw as much as £1.4 billion in surplus credit was held in company accounts in October 2018. Customers who pay by fixed direct debit pay the same amount each month based on their estimated consumption. They typically build up a credit balance during the summer when their energy use is lower and then draw down on this credit during winter.