Does an energy supplier owe you money?

The Big Six energy suppliers have launched a campaign to reunite former customers with money left in credit in a move that has been welcomed by consumer groups and the regulator.

The MyEnergyCredit campaign will encourage customers who have switched suppliers or moved home without leaving a forwarding address to get in touch with their old company if they think they have left money behind.

Energy UK said £153 million in unclaimed credit had accumulated over the last six years, with the average balance at around £50.

The trade association said from now on, after two years any unclaimed credit would be put towards funds to help the fuel poor and vulnerable, which would amount to at least £65 million over five years.

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Suppliers would "kick start" this new deal with £38 million for 2014 and 2015 combined.

Energy companies will also introduce new standards to minimise unclaimed credit balances building up in future, but "for the avoidance of doubt" any valid credit would always be refunded, however long ago the customer left.

Energy UK's chief executive Angela Knight said: "This is a great campaign launched today and we will be ramping it up throughout the autumn. This money has been left behind and we are urging former customers to come forward and make a claim.

"Customers who think they haven't left a forwarding address or a final meter reading when they moved or switched should contact their old supplier. The web site myenergycredit.com will help you do this.

"Inevitably, there will be some former customers who will not be found and so the major suppliers are announcing what will happen to credit balances from now on. In future, after two years, the credit balance will be used to help vulnerable customers - and suppliers will make it very clear what is happening.

"By 2018, these new arrangements are expected to add up to around £65 million of help to those in difficulties. The suppliers will kick start this process now by donating £38 million for the first two years combined."

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Energy minister Amber Rudd said: "People should rightly be returned money that is theirs and was left behind when they moved house or switched.

"Earlier this year, the Government and Ofgem announced plans to get to the bottom of problems with outstanding credit balances and an agreement was reached with the major energy companies to ensure they automatically refund direct debits to customers who are in credit.

"It is very encouraging that Energy UK's new campaign will now work harder to reunite former customers with unclaimed credit balances too."

Ofgem chief executive Dermot Nolan said: "Today's industry announcement is an encouraging first step by the six largest energy companies to address Ofgem's call to reunite customers with their cash.

"It is good news for consumers and if you think you could be owed money we recommend that you contact your previous supplier.

"This issue is part of a wider challenge of delivering good customer service that the industry must crack if they are to rebuild customer trust and confidence. And while Ofgem welcomes the progress made to date, suppliers must now do everything within their powers to return the money and prevent a similar situation from happening again.

"Failure to deliver on the initiatives announced today could trigger further action by Ofgem, including enforcement."

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In February, Ofgem told the biggest energy firms to refund former customers more than £400 million held in closed accounts.

The regulator found that the Big Six - British Gas, EDF Energy, E.On, npower, ScottishPower and SSE - were holding at least £202 million from around 3.5 million former household customers between them.

The energy firms had also retained £204 million from 300,000 closed business accounts, Ofgem said, adding that it had found "an unacceptably large" amount of money being retained rather than returned to customers, and a wide variation in company practices.

Which? executive director Richard Lloyd said: "It's unacceptable that energy companies have been sitting on millions of pounds of consumers' cash, so it's good to see moves to ensure people get their money back.

"Ofgem was right to step in to deal with this. To help restore consumer trust in the energy market, suppliers must return this money as soon as possible and be clear about what customers should do when they close their accounts.

"Any money that can't be reunited with the customer should be put towards helping vulnerable people struggling with their bills."

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