Suppliers are actually owned far more in unpaid debts, Energy UK claims
Following last week’s appeal by Ofgem to energy suppliers, who’s asking them to return over £400m in credit to former customers, Energy UK, the body representing UK’s energy companies, hit back, claiming that their members are actually owed far more in unpaid debts than they owe themselves.
According to a media news report on this matter, a spokesperson for Energy UK said that “Energy companies try and make sure individual customers’ money gets back to its rightful owners. However, more commonly energy companies are owed many times more money by people who leave unpaid debts behind them.
“Although companies are working to return money where there are credit balances sometimes former domestic customers provide no new contact details so suppliers don’t know how or to whom they can return the money. The most common reasons energy companies end up holding funds are when the bill payer has moved home or when a customer dies and suppliers have no record of the next of kin.”
Energy supplier npower claims it is owed over £80 million on average every year whereas it owes customers around £2.5 million, while the rest of the Big Six energy firms also insist they are doing all they can to immediately provide a full refund to customers for any sum they owe.
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