As part of Ofgem’s investigation into the firm it has ordered Economy Energy to issue refunds. How quickly they should be paid depends on when you requested the refund:
- If you requested the refund before Friday 4 January. It should be paid within 28 days of your refund request, or by Friday 18 January, whichever is later – or Economy Energy should explain why it’s refusing to pay.
- If you requested a refund from Friday 4 January onwards. This should be paid within 28 days of your request.
Usually, when a customer switches away from a supplier, Ofgem says any remaining credit should be refunded within 10 working days.
In fact, the energy watchdog plans by summer to introduce fines for suppliers that don’t return customers’ cash within that time period.
The big six suppliers, alongside a large number of smaller firms, have also signed up to the Energy Switch Guarantee. This industry scheme promises that any credit from an old supplier will be refunded within 14 days of a switch being completed.
I’m owed a refund from Economy Energy – what should I do?
If you’ve recently switched from Economy Energy, check your final bill to see if you’re owed a refund. If you are, you’ll need to contact Economy Energy directly.
If you’re unhappy with its resolution, or you don’t hear anything for eight weeks, you can refer your complaint to Ombudsman Services, an independent consumer complaints resolution service.