Martin Lewis is urging millions of energy customers who pay by monthly direct debit to check their accounts today — as they may be owed hundreds of pounds in unused bill credit.
The MoneySavingExpert founder estimates that UK energy firms are collectively holding on to £3 billion in customer credit, much of which could be refunded to households who are unknowingly overpaying.
Speaking on Good Morning Britain, Martin said:
“If you’re on monthly direct debit, either with a smart meter or recent meter readings, now is the time to check your account. Today is typically when you have the least debt or most credit in your billing cycle — making it the best day of the year to claim money back.”
Why Energy Credit Builds Up
Energy direct debits are designed to spread the cost evenly across the year, meaning customers overpay in warmer months and underpay in winter.
“In summer, you’re likely to build up credit. That’s expected. But when energy firms keep too much, they’re earning interest on your money,” Lewis explained.
How to Check and Claim a Refund
To find out if you’re owed money:
- Take a meter reading (unless you have a working smart meter).
- Log into your energy account.
- Check if you’re substantially in credit — more than a month or two of your regular payment.
? Martin’s rule of thumb:
“If your monthly direct debit is £200 and you’re £500 in credit, I’d ask for at least £200 back.”
You can then contact your supplier and ask for the credit to be refunded.
What If They Refuse?
Lewis pointed to Condition 27 of the Gas and Electricity Licence, which gives customers the right to a fair direct debit:
“They must justify their charges. If they keep too much credit without reason, complain — and if needed, escalate to the free Energy Ombudsman.”
He also suggests requesting compensation for time and inconvenience if the refund is wrongly denied.
