Customer credit balances held by energy suppliers rose to as much as £5 billion during 2023. Figures revealed by Ofgem show that during last summer suppliers held £5 billion in credit balances. That figure fell to £4.1 billion by the end of the year and averages out at £3.7 billion across the whole of 2023. For comparison, this £3.7 billion average figure is some 20% higher than the £3.1 billion worth of debt Ofgem confirmed at the last price cap update.
Suppliers held billions of pounds in customer credit balances last year
