Brits owed £100s by energy companies
Energy companies are holding on to an extra £1.3bn of their
customers' money due to overpaid bills, according to
Gocompare.com.
New research by the comparison website revealed that two out
five Brits are overpaying for their gas and electricity as the
energy companies cash in to the tune of billions of pounds.
Energy suppliers owe, on average, £124.34 to customers who are
overpaying for their gas and electricity. One in ten of these are
due a refund of as much as £500.
Despite energy customers being owed hundreds of pounds, 21% of
them have never asked for a refund. 50% let the balance rectify
itself, and almost one in ten are either too embarrassed to ask for
a refund, or can't be bothered.
You should never let your utility company
estimate your energy usage - it's a sure-fire way to end up
shelling out more than you really need to.
The research also showed that millions of Brits are potentially
losing out as 37% of energy customers admit to hardly ever checking
their meter readings when they get a bill.
Mark Greening, head of utilities at Gocompare.com, said: "It's
hardly surprising that so many people are overpaying for their gas
and electricity. You should never let your utility company estimate
your energy usage - it's a sure-fire way to end up shelling out
more than you really need to.
"It's not unusual to build up a credit during the summer, and
following the bitterly cold winter we've experienced, any
overpayments made could've helped soften the blow of the big bills
that most of us have recently received. However, if you find
yourself in credit after your winter bills have been paid then make
sure you ask for your money back - it's better to have the extra
cash in your bank account than your energy provider's."
The research also showed that 36% think their energy bills are
too confusing. A quarter of those surveyed thought energy bills
were full of jargon, while 29% said they were badly laid out. A
massive two-thirds of people said that energy companies should make
their bills easier to understand.
"Energy bills are littered with confusing terms that would put
most of us off reading them in any great detail. Although the way
that the cost of energy is calculated is complicated, there's no
reason why energy companies can't explain their charges in plain
English," Mark continued.
"If bills were easier to understand then people would feel
better able to manage their gas and electricity accounts more
effectively, and things like overpaying for energy would be less of
an issue."
Useful links:
How to claim a refund
on overpaid energy bills
Claims Financial
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