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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Govt source: Energy firms holding money will be fined

Fines will be issued to any of the Big Six energy companies which fail to return money to former customers, a Government source has told ITV News Consumer Editor Chris Choi.

Energy regulator Ofgem has written to the leading providers calling on them to refund the more than £400 million found to be held in closed accounts.

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