Energy regulator Ofgem has reminded customers that they can ask for a refund if they have built up a credit balance on their energy account and believe they have overpaid. Latest figures for the year to March 2026 show energy companies hold £3.2 billion of customers' money, with the average credit balance for those paying by fixed monthly Direct Debit at £199.
Why credit balances build up
A credit balance occurs when you have paid more for gas and electricity than you have used. This often happens because households spread costs evenly across the year via monthly direct debits, paying more in summer to build a buffer for winter. Credit can also arise from suppliers overestimating usage due to missing meter readings, lower-than-expected consumption, or payment timing.
Ofgem advises that customers with a live account can ask for a refund at any time, but should consider whether they will need the money for higher winter bills before withdrawing. The regulator also urges regular meter readings or smart meter use to ensure bills reflect actual usage and avoid unnecessary credit.
Switched supplier? You could still be owed money
Consumers who have switched supplier or moved home should check they have received any credit left on their old account. Under Ofgem's guaranteed standards, suppliers must send a final bill within six weeks of a switch and refund any credit within 10 working days of issuing that bill. If they miss these deadlines, customers are normally entitled to £40 compensation, with a further £40 possible if compensation is not paid on time. The rules also apply to settling estates after a death.
How to claim your money back
If your account is open, contact your current supplier and ask for a refund. They may request an up-to-date meter reading first. If you have switched, contact your previous supplier with old account details or address. If you believe a refund was wrongly refused or compensation not paid, complain to your supplier first.
Where to get help
Citizens Advice offers free support via its energy helpline on 0808 223 1133, textphone 18001 followed by that number. In Scotland, Advice Direct Scotland can be reached at 0808 196 8660 or energyadvice.scot. More information is available from Ofgem's guide to claiming back energy account credit.
