Many people ‘have been overpaying for energy’

Those fighting debt may be interested to hear that a report has revealed two in five people in Britain are overpaying for their energy.

A survey conducted by Gocompare.com has found that 43 per cent are shelling out too much for commodities such as gas and electricity.

The disparity means that utility companies could be withholding an extra £1.3 billion of their customers’ money.

It means that, on average, people that are paying more than required are owed £124.34 by their suppliers, with almost 10 per cent of those due a return of up to £500.

Mark Greening, head of utilities at the company, said that it is “hardly surprising” that this number of individuals are losing out, “with 37 per cent of energy customers admitting that they hardly ever check their meter readings when they get a bill”.

Last month, Mr Greening, head of utilities for the web portal advised customers to shop around for their energy suppliers as one tariff is not likely to suit everyone.

By Joe Shervin