Consumers Demand Innovation From Their Energy Suppliers T: 01784 843000. e: media@centrica . following the collapse of over 30 energy suppliers since the start of 2021, new independent consumer research shows that the vast majority (86%) of consumers want their energy supplier to protect their credit balances. while 13% were unsure, only 1% of all survey respondents said that they didn’t think. Following the collapse of over 30 energy suppliers since the start of 2021, new independent consumer research shows that the vast majority (86%) of consumers want their energy supplier to protect their credit balances.
Vast Majority Of Customers Want Energy Suppliers To Safeguard Credit Balances Simply Switch Posted on april 28, 2022 at 3:52 pm. nearly nine in 10 consumers want energy suppliers to protect their credit balances, a new poll commissioned by centrica has revealed, backing up the energy giant’s call for ofgem to make ring fencing credit balances “an industry standard.”. a yougov survey found that 86% of consumers want their energy. The customer’s credit balance is used to make up the difference. ofgem refers to credit balance in excess of what is required to cover winter debt as ‘surplus credit balance.’. it has estimated that, in october 2018, energy suppliers held £590 million to £1.4 billion in surplus credit. Edf energy has backed ofgem’s plans to toughen financial requirements for suppliers – which stop short of the full ringfencing of customer credit balances supported by rival and british gas. The proposals would see as much as £1.4 billion going back to consumers. ofgem is consulting on proposals to limit the amount of customer credit balances suppliers can hold, which could result in as much as £1.4 billion in total or £65 per household on average being returned. customers who pay by fixed direct debit pay the same amount each.
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