Photo by Get Back What’s Yours: How to Reclaim £1,000 from Your Energy Firm
Are you overpaying for your energy bills? You might be surprised to know that you could be owed a significant amount of money from your energy company. Thanks to a little-known rule, one savvy customer managed to reclaim a whopping £1,000 from their energy firm.
The ‘Early May’ Rule
According to Martin Lewis, the renowned financial expert, energy firms build up a reservoir of customer cash that can be claimed back. Households who pay for their energy via monthly direct debit could be owed cash if they’re in credit. This is because monthly direct debits are based on an estimate of usage, which can be dire, leaving many unnecessarily overpaying with too much credit or underpaying and getting into energy debt.
A Success Story
One billpayer took Martin Lewis’ advice to heart and approached their energy supplier. They had over £1,000 in credit with their energy supplier and managed to get repaid. Not only that, but their direct debit was also reduced from £265 to £112 per month.
When to Act
So, when should you query your energy bill and ask for a refund? According to Martin Lewis, early May is the baseline for when you should have minimum credit. This is because the midpoint of winter weather is around the end of January, and it takes until May for your energy debt to stop increasing. If you’re substantially in credit in early May, then that’s too much.
Take Control of Your Energy Bills
Don’t let your energy firm keep your hard-earned cash. Take control of your energy bills and reclaim what’s yours. Check your account today and see if you’re owed a refund.
Take control of your energy bills
What You Can Do
- Check your energy account to see if you’re in credit
- Approach your energy supplier to query your bill and ask for a refund
- Consider reducing your direct debit to avoid overpaying in the future
Start saving today
Conclusion
Reclaiming what’s yours is easier than you think. By following Martin Lewis’ advice and taking control of your energy bills, you could be owed a significant amount of money. Don’t let your energy firm keep your hard-earned cash - take action today and start saving.
Start saving today
