Energy suppliers in Great Britain were holding about £2.9 billion of customer credit at the end of June 2026, according to figures Ofgem published on 5 October. That is £200 million more than a year earlier.
Credit balances build up when households on fixed monthly direct debits pay more than they use, which typically happens in spring and summer when energy use falls. Suppliers then draw the balance down over the colder months.
The figures
Ofgem’s release covers households paying by fixed direct debit that were in credit. It reports:
- End of June 2026: £2.9 billion in total, up £200 million on June 2025.
- Average household balance at end of June: £182, up £4 from £178 a year earlier.
- 12-month rolling average, year to June 2026: £3.3 billion in total, up £100 million on the year to March 2026, and £200 per household, up £1.
- Coverage: approximately 16 million households.
Ofgem says the increases are consistent with seasonal trends. The rolling average smooths out seasonal swings and gives a clearer view of the underlying position.
Caveats
The figures are net of unbilled consumption and exclude closed accounts and non-domestic tariffs. Only accounts in credit on the last day of each quarter are counted, so the average does not describe every household, and individual balances will differ. Coverage also differs between Ofgem’s releases, so headline totals from earlier editions should be compared with care.
Why it matters now
The figures arrive as a new price cap period began on 1 October. Ofgem set the cap at £1,723 a year for a typical dual-fuel household, a 4% rise, with VAT on electricity removed by the government. Our guide to energy bills this winter covers what that means in practice.
Households on a direct debit can check their supplier statement to see whether they are in credit. Our explainers cover the energy price cap and the standing charge.