Energy companies from UK ordered to pay back billions from direct debit overpayments

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The newspaper 'The Mail' revealed two weeks ago how the energy companies managed to make close to £36million per year just from interest. Accusations of profiteering were brought soon after. Some companies didn't always refund credit some of their customers had after switching provider. Now, all UK energy companies will have not only to repay all their customers but also review each of their accounts two times per year.

The reason this situation was generated in the first place is because as many as 13 million households pay a fixed amount of money on their monthly bill and during summer when usage is lower they end up overpaying. This of course lead to huge credits on many consumer accounts which in turn generated a lot of money for energy companies that profit from the resulting interest.

The new initiatives are not still fully decided but will be more than welcomeed by consumers everywhere in UK as these will bring relief for households that face inflation-busting price increase for their fuel bills.

 

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