Millions Could Be Owed £240m from Old Energy Accounts, Says Ofgem
Nearly two million energy customers in the UK could be owed money from old energy accounts, according to the energy regulator Ofgem. Many people may have closed their accounts while still having money left in credit, and Ofgem is asking them to check if they are due a refund.
Millions in Unclaimed Credit
Ofgem’s latest report shows that about 1.9 million energy accounts were closed over the last five years with a total of £240 million in unclaimed credit. This means that customers who have moved house or switched energy suppliers could have left money behind in their old accounts.
The regulator said that many people are unaware they have credit left, especially if they changed energy companies several years ago. Some may only be owed a small amount, such as a few pounds, but others could be owed over £100.
Ofgem Urges Customers to Check
Tim Jarvis, Ofgem’s Director General of Markets, said that energy companies “work very hard to return money to people” when an account is closed. However, if they do not have the customer’s latest contact details, it becomes difficult to send the money back.
He added:
“The message is clear – if you’ve moved in the last five years, contact your old supplier, give them your current details, and you could be due a refund.”
Ofgem is encouraging all energy customers who have moved home, switched suppliers, or closed accounts in recent years to check if they are owed any money. People can do this by calling or emailing their former energy supplier and providing their old account details, address, or meter number if possible.
Higher Bills Ahead for Millions
While some customers may be due refunds, others are facing rising energy bills this winter. From the start of this month, Ofgem has raised the maximum price cap – the limit on what energy companies can charge for gas and electricity.
This cap affects around 29 million households across the UK. For those paying by direct debit, the average annual dual-fuel bill (covering both gas and electricity) has gone up by £35, reaching £1,755 per year.
This increase comes even though wholesale energy prices – the prices energy companies pay – fell by about 2% over the summer. Experts say this shows that energy bills remain high and that many households will continue to struggle with affordability.
Energy Debt Reaches Record High
At the same time, the UK is facing a growing energy debt crisis. As of the end of June, unpaid energy bills reached a record £4.4 billion. Many families are finding it difficult to pay their bills on time, especially as living costs continue to rise.
The Office for National Statistics (ONS) reported that in April, a record number of British households could not pay their energy bills through direct debit because there was not enough money in their bank accounts. This highlights the financial pressure many families are under.
Ofgem’s Debt Relief Plan
In response to the growing crisis, Ofgem has announced a new plan to help people on low incomes who have fallen behind on their energy payments.
The regulator said it would move forward with a scheme to clear £500 million of debt from about 195,000 customers who receive means-tested benefits and have built up more than £100 in debt during the energy crisis.
The first part of the plan could give debt relief of around £1,200 per account or £2,400 for dual-fuel customers. This financial support would go directly to the energy suppliers to reduce or cancel eligible customers’ debt.
However, the cost of this plan will be spread across all energy bills. Ofgem estimates that the policy will add about £5 a year to the average dual-fuel bill by 2027–2028.
A Small Step in a Bigger Problem
Even though the scheme will help many struggling households, Ofgem admits it will only make a small dent in the country’s larger energy debt problem. With billions still owed and prices remaining high, the energy affordability crisis in Britain is far from over.
Consumer groups are urging the government and regulators to do more to protect vulnerable people, including increasing support for those on low incomes and ensuring fairer pricing across the market.
For now, Ofgem’s advice is simple:
“Check if you’re owed a refund. Contact your old energy supplier. Every little bit helps – especially when bills are rising.”
Published: 31th October 2025
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