Ofgem demands energy companies return money to 3.5m customers
Ofgem has confirmed that it is calling on major energy suppliers to return £400m to their customers after research found companies were holding the money in closed accounts.
Ofgem said suppliers are holding £202m from 3.5m domestic customers and £204m from 300,000 business accounts.
Andrew Wright, interim chief executive of Ofgem, commented:
When many people are struggling to make ends meet, it is vital that energy companies do the right thing and do all they can to return this money and restore consumer trust.
We want to see decisive action by suppliers, individually and collectively, to address this issue and, wherever possible, to ensure that the balances they currently hold are returned to consumers.
Ofgem advised consumers who had switched energy companies or moved house to contact their former supplier.