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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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SSE: Bad debt overshadows customer funds we hold

One of the Big Six energy suppliers has said it writes off four times as much "bad debt" every year as the funds it retains from closed customer accounts.

A statement from SSE said it takes "all reasonable steps" to return money to customers and always views "any credit as theirs", adding:

No matter how much time passes, if they come forward and we can identify an outstanding credit, we will return it to them.

We're happy to work with anyone who has legitimate suggestions for how we can find customers more easily and efficiently.

However, the reality is that the bad debt we have had to write off in recent years is about four times the amount of credit that couldn't be returned, so this is not a situation that benefits us.

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