Energy firms holding £7bn in customer credit

Energy firms are holding almost £7bn in customer credit with some households owed more than £400 in credit. We explain how to claim your money back.

Couple checking their finances at home with their dog
(Image credit: © Getty images)

Energy companies owe a combined £6.7bn to 16 million households after increasing customers’ direct debits in reaction to energy price rises.

Customer credit is overall £5bn higher than last year with a mild winter and households’ concerted efforts to cut back on heating also playing a role.

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CityAverage credit owed% of city in credit
Plymouth£60350%
Brighton£46455%
Sheffield£44151%
Manchester£43156%
Bristol£42345%
Birmingham£42260%
London£41856%
Norwich£41759%
Liverpool£40466%
Newcastle£39963%
Leeds£38255%
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Katie Binns

Katie is deputy editor of Times Money Mentor and long-time contributor to the Sunday Times where she started on the Irish desk in 2012 and spent 10 years covering news, culture, travel, personal finance and celebrity interviews. 

Her investigative work on financial abuse has examined the response of banks, the Financial Ombudsman and the child maintenance service to victims, and resulted in a number of debt and mortgage prisoners being set free - and a nomination for Best Finance Story of the Year at the Headline Money awards in 2021 and 2022. 

Katie was also shortlisted for Freelance Journalist of the Year at the Headline Money awards in 2022, 2023 and 2024 and won Personal Finance Journalist of the Year at The British Bank Awards 2022.