British households grappling with the cost of living crisis have been thrown a potential lifeline, with a simple, one-question test that could save them hundreds—or even thousands—of pounds on their energy bills.
The revolutionary 'Check It' campaign, spearheaded by the Energy Saving Trust, is designed to prevent millions from overpaying on their direct debits. The initiative targets a common pitfall: customers paying significantly more than they actually use, effectively giving energy companies an interest-free loan.
The £1,800 Direct Debit Dilemma
Shockingly, recent data reveals that a staggering 70% of households on a direct debit are potentially in credit to their supplier. The average overpayment sits at a substantial £180, but for many, the figure is far higher, with some accounts in credit by over £1,800.
This surplus occurs when monthly payments are set too high based on estimated usage rather than actual meter readings. While being in credit can seem like a safety net for winter bills, experts warn that holding excessive amounts with your supplier is poor financial practice.
The Power of a Single Question
The campaign cuts through the complexity with one crucial question: "Are you more than £100 in credit on your energy bill?"
If the answer is yes, you are likely overpaying. This simple check is the first step towards reclaiming control of your finances.
How to Claim Your Money Back
Taking action is straightforward. The Energy Saving Trust outlines a clear, three-step process:
- Submit a meter reading: Provide an up-to-date reading to your supplier via their app or website to ensure your balance is accurate.
- Contact your supplier: Get in touch and simply ask for a refund of your credit. Suppliers are obligated to comply if the amount is reasonable.
- Adjust your direct debit: Ask for a review of your monthly payments to ensure they more accurately reflect your actual energy consumption.
This process empowers consumers to stop their money from sitting idle in a utility company's account and put it back into their own pockets.
Why This Matters Now
Although the energy price cap has fallen, bills remain historically high, placing continued strain on family budgets. Every pound counts, and reclaiming a credit balance can provide vital breathing space for other essential expenses.
"The Check It campaign is about giving people the confidence to contact their supplier and ask for their money back," said a spokesperson from the Energy Saving Trust. "It’s your money, and you shouldn’t be afraid to ask for it."
Don't let your hard-earned cash work for your energy supplier. Take two minutes to check your balance today—it could be one of the most profitable actions you take all year.
