Utility Companies required to pay Interest on Credit Balances

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Utility Companies required to pay Interest on Credit Balances

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Utility companies seriously encourage account holders to pay by direct debit. However, the funds that they obtain often bears no relationship to the amount owed. It is in the utility companies' interests to maintain credit balances; this is to the detriment of the account holder who loses the benefit of the money thus taken.

We would therefore ask the UK Government to require Utility Companies (Telecom, Gas, Electricity and Water) to pay a commercial rate of interest on any Security Deposits required and on all Credit Balances over £20.00 to the Account Holder.

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