Utility bill customers in credit with energy companies
We've researched the best savings account sites giving you the facts.
www.bestconsumerresearch.com
The highest rate savings accounts, maximise your returns ... A cash ISA is effectively a tax-free savings account each adult can put up to £3,600 a year in. ...
www.moneysavingexpert.com
Energy companies are in credit with their customers by £174 million due to unclaimed overpayments.
Nearly five million householders in the UK are owed money by their gas company because their direct debit payments have not been updated to reflect lower utility bill prices, according to new research by moneysupermarket.com.Some £454 million is owed to consumers from energy suppliers – equivalent to £89 each – and even when the £280 million of customer debt is taken into account, gas giants are still in credit by £174 million.
However, the website has found that 80 per cent of those with money to claim back from utility bill overpayments have not done so, meaning that £363 million is still lining the energy firms' pockets.
The site claimed that the money owed could be placed into savings accounts, gaining UK homeowners a collective £5.3 million extra in interest at current rates.
Scott Byrom, utilities manager at moneysupermarket.com, said: "In 2008 we saw gas giants holding £225 million of their customers' cash 'on float' and while it is encouraging to see this has decreased by more than £50 million this year, there is still cause for concern.
"Four-fifths of bill payers with 'cash on float' have not asked for their money back - a clear oversight, especially when many of us are feeling the financial pinch."
Consumers hoping to keep their utility bill costs down this winter were recently offered an early Christmas present from Npower, which announced a new market-leading tariff.
As competition among energy providers increases, customers could see their utility bills drop to as low as £907 a year by taking up Npower's new Sign Online 17 Dual Fuel package.
Written by Karen Eliot
© Copyright
Choose from instant access savings accounts, tax free cash ISAs, fixed rate bonds and ... Quickly understand the best deals available using our comprehensive savings tables. ...
www.which4u.co.uk
Moneyfacts' Savings - Best Sellers. Completely unbiased, independent best buy guides help you make better financial decisions.
moneyfacts.co.uk
Competitive interest rates on a number of savings accounts, choose from easy access internet accounts, fixed-rate accounts, guaranteed equity bonds or telephone ...
www.theaa.com
Related Articles
- Take advantage of cheap bargains on Christmas movie deals - 18th December, 2009
Families hoping to get into the Christmas spirit by settling down in front of a classic festive film should make sure they get a cheap bargain on movie packages through their TV service provider.
According to uSwitch.com, 91 per cent of Brits are looking forward to getting the popcorn out with a film this season, with 28 per cent claiming that "Christmas would not be Christmas" without their favourite movie... - Christmas 'perfect time' for cheap bargain cars - 14th December, 2009
Consumers looking to take advantage of the value of a used car may wish to do so now, as there are many cheap bargains currently available at showrooms across the UK.
According to the Guardian, Christmas is traditionally a good time to buy a used car as other people are too busy getting ready for the festive period, but this year has the added bonus of falling quotes... - Advice given for budget weddings - 16th December, 2009
Couples hoping to hold a budget wedding as the recession keeps its grip on the nation's finances have been offered some tips by one newspaper.
The Daily Comet spoke to various marriage experts to find out the best ways to save money on the special day, after revealing the extent of spending that US brides-to-be are willing to make... - Npower sparks further utility bill competition - 15th December, 2009
Consumers hoping to keep their utility bill costs down this winter are being offered an early Christmas present from Npower, which has announced a new market-leading tariff.
As competition among energy providers increases, customers could see their utility bills drop to as low as £907 a year by taking up Npower's new Sign Online 17 Dual Fuel package... - Voucher site championed for January sales - 13th January, 2010
One leading high street voucher website was championed yesterday (January 12th) for the value it is providing shoppers with in the January sales.
Many retailers have launched promotional offers in an attempt to lure bargain-hunting Britons, who are tightening their purse strings after an expensive Christmas period... - Asda backed to beat Tesco in online shopping battle - 27th January, 2010
A discount website has revealed that Asda.co.uk, the supermarket’s online shopping service, could soon usurp Tesco.com if customer trends continue.
Myvouchercodes.co.uk said that Tesco's website had the majority share of online grocery shoppers with 41 per cent, compared to just 27 per cent for Asda.co.uk... - New First:utility tariff 'ideal' for central heating cover customers - 19th January, 2010
Central heating cover customers could save as much as £20 per year by selecting a new energy tariff, it was suggested today (January 19th).
According to research by Confused.com, the cheapest basic deal for households at present is npower's Sign Online 17 tariff, which should offer average annual fuel bills of £907... - Consumer rights advice offered by BIS - 14th December, 2009
The Department of Business, Innovation and Skills (BIS) has released some information for shoppers unhappy with any Christmas gifts they have bought as part of a new consumer rights advice campaign.
The scheme is to remind Brits that any purchases made over the festive period must still adhere to three golden rules – they should match any descriptions, be fit for purpose and be of satisfactory quality... - Central heating cover customers told fuel prices 'not set to rise' - 8th January, 2010
Central heating cover customers have today (January 8th) been reassured that their fuel bills will not become more expensive in the coming months.
With a cold snap currently gripping the UK, energy supplies are being tested to the limit, prompting some observers to suggest that prices will inevitably rise... - Moneysupermarket.com warns of inflated energy bill costs - 3rd February, 2010
The website has warned consumers to expect an expensive energy bill because of the recent cold weather.
Britons are bracing themselves for their highest winter heating bills ever after the cold snap bloated quarterly energy costs by as much as 20 per cent, new research has revealed...