What is Energy Credit?
Energy credit refers to the balance your business has with your energy supplier when you’ve overpaid on your gas or electricity bills. This can happen for several reasons, such as estimated meter readings that are too high or changes in your business operations that reduce your energy consumption.
Claiming Energy Credit: A Step-by-Step Guide
- Review Your Bills: The first step in claiming energy credit is to review your recent utility bills to check for overpayments. Look for discrepancies between your actual energy usage and the estimated usage billed by your supplier.
- Contact Your Supplier: If you find any overpayments, contact your energy supplier to discuss the issue. Be prepared to provide them with the correct meter readings and any supporting evidence of your energy consumption, such as invoices or receipts.
- Request a Refund or Direct Debit Adjustment: If the credit in your account exceeds your monthly direct debit payment, you can request a refund from your energy supplier. Alternatively, you can ask them to reduce your direct debit payments. Suppliers can handle credit repayments in two ways: by refunding the money owed or by adjusting your direct debit payments.
- Claim Credit from a Bust Supplier: If your supplier has gone bust, don’t worry – you can still claim back credit. Your new supplier will provide you with information on how to claim the credit owed to you.
- Stay Vigilant: Continuously monitor your energy bills to ensure that your supplier is accurately billing your business. Regularly provide meter readings to your supplier to avoid estimated bills and ensure your account stays up-to-date.
- Switch Suppliers: If you’re unhappy with your current supplier or suspect that they’re not billing you accurately, consider switching to a more competitive provider. SwiftSwitch can help you find the best deals on gas, electricity, and other utilities to save your business money.
At SwiftSwitch, we’re dedicated to helping UK businesses save money on their utility bills. Our team of industry experts has extensive knowledge of the utility market and can help you claim energy credit from your supplier. Our services include:
- Utility Bill Analysis: We’ll review your bills to identify any overpayments and provide advice on how to claim energy credit.
- Supplier Negotiation: Our team will negotiate with your supplier on your behalf, ensuring that any overpayments are corrected and credited to your account.
- Utility Switching: If it’s in your best interest to switch suppliers, we’ll find the most competitive deals for your business, helping you save on gas, electricity, telecoms, payment services, waste, and water costs.
- Ongoing Support: Our commitment to your business doesn’t end after the initial switch. We’ll continue to monitor your bills and provide expert advice to ensure you’re always getting the best deal.
By following the steps outlined above, including requesting refunds or direct debit adjustments and claiming credit from an insolvent supplier, you can ensure that your business is always getting the best deal on its gas, electricity, and other utilities. Contact SwiftSwitch today to find out how we can help your business save on its utility.