They are entitled to refunds totalling £1.7billion from cash paid monthly into their power company’s budget agreements. Price comparison site USwitch.com found the outstanding credit – accrued when typical household usage costs less than the average monthly payment – in a poll of 2,000 people. Consumer experts urged customers to either reclaim their cash or use it as a buffer against the higher power bills expected during the Covid-19 lockdown.
The website’s energy specialist, Sarah Broomfield, said the extra cash would be welcome news for customers trying to balance their budget.
She added: “We hope that providers will act quickly to make sure that direct debit payments accurately reflect energy use.”
USwitch.com said that while monthly direct debit payments stay the same, energy usage goes up during the cold months and down when it is warm.
In theory, consumers should be in debit with their supplier during the winter and in credit during the summer. The survey found the total…