Around £240 million of energy credit sits in closed account balances and could be claimed by consumers, the energy watchdog has said. Data shows 1.9 million closed accounts carry credit, and people who moved home in the last five years may have money left in their accounts because their contact details were not updated.

More than 90% of closed balance credits are returned automatically, and suppliers will typically attempt to refund any outstanding amounts. People are advised to check final bills, letters and emails, and to log in to old accounts or contact their former supplier if they believe they are owed money.

Ofgem’s Tim Jarvis said that relocating can create life administration and some details can be forgotten, but with almost two million closed accounts in credit, those who moved in the past five years should contact their old supplier with up-to-date information to see if a refund is due. Energy UK’s Ed Rees stressed the importance of keeping contact details updated so suppliers can provide support and return unclaimed funds promptly; if you are moving, switching or closing an account, keep your direct debit active until the final bill is settled to avoid money being left unclaimed. Under Ofgem rules, final bills must be issued within six weeks of an account closure and refunds within 10 working days, with delays often occurring when customer details are missing.