Published On: Mon, May 13th, 2024
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Martin Lewis says these energy customers get £180 today | Personal Finance | Finance

Energy customers with major firms including British Gas, EDF, OVO, Octopus Energy and E.On as well as Scottish Power can get as much as £180 right now paid directly into their bank accounts.

Money-saving expert Martin Lewis says May is the month each year when every energy customer should be checking their bills and the amount of credit they have on their account.

This is because those who are overpaying their monthly Direct Debit will easily be able to identify the issue in May, when your account in theory should be at its deepest in debt before the summer months push you back into credit.

And the average payout to those who are owed money is £180. Simply contact your energy firm and get the payment directly back into your bank account.

Martin explained that energy firms are holding onto about £3billion of our money, which equals £180 per household on average.

Because of the way monthly energy direct debits work, the amount you pay per month is an average of your usage throughout the year. In winter, you will pay less than you’re using, building up debt, but in summer you will pay more than you’re using, paying the debt down and building up credit.

Because May is the ‘bottom’ of the cycle, you shouldn’t have much credit now as winter has just ended and summer usage is just beginning. 

Martin says: “So if you’ve done an up-to-date meter reading (or your smart meter has), your bill is up to date, and your Direct Debit is the right level, now is the perfect time to see if you’ve too much energy credit. More than a month’s worth right now is certainly a lot, so ask for it back.”

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