How to get an energy refund from your supplier
The process to get an energy refund from your business supplier is very straightforward and firms and organisations should simply call them and request the credit. Under Ofgem rules, the business energy supplier cannot refuse an energy refund without good reason which includes the supplier having a bill dispute or if the account is in arrears.
Indeed, it’s been estimated that the UK’s energy providers are sitting on several hundred million pounds worth of unpaid credit bills for businesses as well as consumers.
Why a business would ask for an energy refund
There are a variety of reasons why a business would ask for an energy refund, for instance they may not want to build-up such a large credit with a supplier or they may be moving to another location.
Also, for businesses looking to switch energy suppliers there’s a need to reclaim an energy refund from their current supplier for energy they will not be using.
To claim their energy refund, a business should contact their supplier and have their latest energy bill to hand since this will have their account number and last meter reading details. The business or organisation may also need to take meter readings so an accurate bill can be calculated for an accurate energy refund.
The process of claiming an energy refund
Most business energy suppliers also have web access so the process of claiming an energy refund from a supplier is straightforward and the business or organisation will also need to supply the latest meter reading if opting to use their web account for a refund.
Businesses should also appreciate that they can also claim back money they are owed from an energy supplier even after they have switched suppliers since they may have closed their account with a credit balance which can be claimed afterwards.
Business energy supplier will pay the energy refund directly
The business energy supplier will then pay the energy refund directly and will generally use the same payment method so for firms that pay by BACS, the refund will come via BACS and for those who pay by cheque, they will receive a cheque. Those businesses who pay their energy bill by debit card will have the credit balance refunded to their bank account.
Some business energy suppliers may also take the credit amount and rather than use it for the energy refund will instead transfer it to another business account held with them to help pay off that energy bill.
For any business or organisation who is wanting to know ‘how to get an energy refund from your supplier’ then this advice should prove useful but for more advice contact the helpful team at Business Energy Hub.