1. National

Energy firms told to refund £400m from closed accounts

The major energy firms are being told to hand back more than £400m owed to nearly four million customers in credit from closed accounts by the industry regulator. The credit was left in accounts when they have moved house or switched suppliers.

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  1. Chris Choi

Energy firms use loophole to skip interest on owed cash

Why are the energy firms paying interest on this pile of customer cash?

We've discovered there is a gap in the rules, with no legal obligation on energy firms to pay interest on all this money they owe customers.

British Gas does not pay interest. The company said they use it to offset other customer debts.

E.ON does not pay interest either. They told us: "Normally only balance owed is refunded”.

Npower, EDF and SSE all do not pay interest.

We raised this with the industry watchdog Ofgem who told us it would expect firms to pay interest if they profited from having the money.

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