Ofgem response to the launch of My Energy Credit by the six largest energy suppliers

Press release

Publication date

Philip Cullum, consumer partner at Ofgem said: “Today’s launch of the My Energy Credit campaign is an encouraging step by the six largest energy companies to address Ofgem’s call to reunite former customers with their cash. It’s good news for consumers and we recommend that you contact My Energy Credit if you believe you may be owed money.
 
“This issue is part of a wider challenge of delivering good customer service that the industry must crack if it is to rebuild customer trust and confidence. While Ofgem welcomes the progress made to date, suppliers must now do everything within their powers to return the money and prevent a similar situation from happening again. Ofgem will continue to monitor suppliers’ progress and keep the need for action under review.”
 
Notes to editors

  1. Background

    In February, Ofgem called on suppliers to tackle three key issues: reuniting individual consumers with their money, using balances that cannot be returned to individuals in a way that would benefit consumers more widely and preventing this issue from happening again.

    Suppliers’ recent commitments will see new efforts to return the hundreds of millions of pounds in balances which Ofgem uncovered. As well as the launch of My Energy Credit, companies are changing practices to ensure there is no build-up on the same scale in the future. They have also committed to ensuring that future balances which are unclaimed and cannot be returned will be used to benefit vulnerable consumers, in a clear and open manner. Failure to deliver on these initiatives could trigger further action by Ofgem, including enforcement.

    The industry has committed to taking a similar approach with small businesses, and Ofgem will hold suppliers to account on progress in both markets.
     

  2. Advice to consumers

    If you switched away to another supplier or changed tenancy get in touch with your former supplier. It is helpful if you have to hand a copy of your previous bill with information of your account details and your former address if applicable. Proof of identify may also be required.

    If you think a deceased relative may have been an account holder you will need to demonstrate your entitlement to any proceeds of their estate if you are pursuing their closed account. If you are about to switch supplier, take a meter reading just before doing so. If you are moving, ensure you give a forwarding address to the supplier you are leaving.
     

  3. Contacting My Energy Credit

    Former customers can contact My Energy Credit by:
    Post: Freepost RTHL-ZYBU-KBCC, My Energy Credit, 47 Aylesbury Road, Thame OX9 3PG
    Website: www.myenergycredit.com
     

    For further press information contact:

    Dafydd Wyn: 020 3263 9943
    Lisa O’Brien: 020 7901 7426