Overview

• Energy suppliers are holding £3.3 billion in customer credit, with the average household credit balance at £215 in 2024, according to Ofgem data.
• Experts highlight May as the optimal time for households to request refunds, as credit balances should be minimal after winter usage.
• A new online calculator from Nous.co helps customers determine if they are eligible for refunds and adjust direct debit levels if overpaying.
• Irregular meter readings and malfunctioning smart meters have contributed to inaccurate billing, leaving many customers unaware of their excess payments.
• Households are advised to submit regular meter readings and contact suppliers to claim refunds or adjust payments to avoid overpaying in the future.