Millions of energy customers may receive refunds from old, closed accounts
Nearly two million energy bill payers across the UK are set to share about £240 million, according to regulator Ofgem. The money comes from old energy accounts that were closed while still in credit, meaning customers had balances that were never returned when the accounts were shut. This renewal of the refunds program marks a major step in returning unclaimed funds to customers who were previously owed money.
Why do these refunds exist?
Energy suppliers periodically close accounts for households and businesses that switch providers or settle their accounts. In some cases, accounts were closed while there was a positive balance, but the money wasn’t returned to the customer. Regulatory reviews have highlighted gaps in how these funds were tracked and returned, prompting Ofgem to push for greater transparency and faster refunds.
What the figures show
Ofgem’s latest analysis indicates that around 1.9 million energy accounts were closed in the last five years with a positive credit balance at closure. The total estimated value of these outstanding credits is about £240 million. While this is a large pot, the distribution will vary by supplier and by the amount held in each account. Customers affected are encouraged to check their records, as many refunds require action by the former energy supplier or by the customer to initiate the return.
Who qualifies?
The refunds apply to customers whose accounts were legitimately in credit at the time of closure and where the balance remained unreturned or unclaimed. It is not a generic refund for all past customers; eligibility depends on the specific account history and the supplier’s handling of the closure process.
What customers should do next
If you think you might be owed money, start by contacting your former energy supplier or checking your old account details. You can also search for unclaimed credits through Ofgem’s consumer pages or your local energy regulator platform. Keep a note of any correspondence, including dates of closure, balances, and payments attempted. If a supplier no longer exists or has changed hands, you may need to reach out to the current successor company or the regulator for guidance on how to proceed.
What this means for consumers and the market
This initiative underscores the regulator’s commitment to protecting consumers and ensuring fair treatment after account closures. For many households, even modest credits can help with rising energy costs. For the energy market, it highlights a need for improved tracking of customer balances and more robust processes to prevent unreturned credits in the future. Suppliers are being urged to streamline refunds and to communicate clearly with customers about how to reclaim their funds.
How to stay informed
Stay updated by following Ofgem’s official channels and the consumer pages of your energy supplier. If you’re unsure whether you have any unclaimed credits, you can request a full statement of your energy accounts for the past several years and seek guidance on any steps needed to recover funds. The regulator’s oversight aims to reduce delays and ensure that consumers receive any money owed without unnecessary hurdles.
In a market where energy prices remain a concern, recovering overlooked credits is a practical relief for many households. By encouraging transparency and providing clear routes to reclaim funds, Ofgem is helping to restore trust in a system that should always prioritize consumer welfare.
