Should energy companies have to pay customers interest on money held in credit?
Energy suppliers hold around £2.9 billion in customer credit balances as of June 2026, with the average household in credit having £182. Customers can request refunds at any time and suppliers must return them promptly unless there are reasonable grounds not to. Ofgem rules require suppliers not to be overly reliant on this customer money for working capital but do not require suppliers to pay interest on credit balances.
41 Opinions
If it stops them from ripping customers off and cashing in on the money they're taking in too early then yes.
Companies that insist you maintain a balance in credit, like a bank not giving an overdraft should have to pay interest for the privilege
No. Some people are okay with the credits balancing out winter bills at an already costly time of the year. For others, the whole year is costly & the money is vital - be proactive as a consumer: Don't let them keep it for longer than we are willing, this falls within our responsibility. Although it sounds like Ofgem needs to reinforce the rules of benefitting from consumer capital. Demanding it back individually seems like less of a faff, overall. ⚡️⚡️⚡️
It is quite a scam how they increase your DD only to hold hundreds of pounds later. I refuse to do DD for energy anymore because the last company owed me nearly £800 when they went bust and it was a nightmare getting my money back!
It took me three years to get my current energy provider to stop taking forced interest free loans of up to £600. British Gas created the Goldfish credit card so it could lend out its customer balances. Companies should better estimate demand and bill accordingly.
They are a bunch of grabbing parasites. They shouldn't be holding on to any credit. They should be immediately returning it at the end of each financial year
So called energy companies are a scam, filtching money in advance and doing nothing. Standing charge is also a scam.
Obviously!
Yes but also let them charge interest on bills not paid for say by 6mth. Fairs fair
No, but they should proactively refund excess balances - ie the onus is on them, not on Granny who thinks the utilities company must know best, so leaves £5000 sitting there while she sits on the dark, frightened to put the light on in case she gets hit with a huge bill.