Ofgem tell big 6 energy suppliers to pay back!

Big 6 Energy companies to pay back into closed accounts

Ofgem have told the big 6 energy suppliers to pay back money left in customers closed accounts. This includes money that was left in accounts after the customer transferred to another energy company. The regulator has said the sum of just over £202m for domestic customers and £204m for business customers, is just to 'larger' amount. It also thing 3.5m domestic and 300,000 business customers are affected.

The regulator is investigating whether or not suppliers policies on returning customers money comply with existing rules.

The representative body for the suppliers, Energy UK have said, returning the money can be a difficult job as customers don't always leave updated contact details. 

In a statement it said "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."

Energy UK chief executive told Radio 5 Live:

"We want to give the money back, of course we do," she said. "Thousands of letters are sent out, people are telephoned, but if you don't have contact details, how do you find them?"