All current and former domestic customers
credit balances will be protected and their supply will continue uninterrupted.
She had a
credit balance of around PS310 with Extra and expected that after she had paid her final bill she would be due a refund of approximately PS200.
"We have a system in place which monitors credits on an ongoing basis and seeks to proactively refund
credit balances as they occur.
Philippa Pickford, Ofgem's director for future retail markets, said: "Our message to energy customers with Brilliant Energy is there is no need to worry as under our safety net we will make sure your energy supplies are secure and your
credit balance is protected."
The ministry explained that the increase in debtstock incorporates devaluation impact due to the depreciation of PakRupee against the US Dollar as well as the impact of increase in
credit balance of the government with the banking system.
Total
credit balances in the private business sector reached EGP 729.7bn in 2017/18, an increase of 7.9%.
Philippa Pickford, Ofgem's director for future retail markets, said: "Our message to energy customers with Economy Energy is there is no need to worry, as under our safety net we will make sure your energy supplies are secure and your
credit balance is protected.
Under regulator Ofgem's socalled "safety net" procedure, the energy supply of Extra Energy's customers will continue as normal and outstanding
credit balances will be protected.
Under regulator Ofgem's so-called "safety net" procedure, the energy supply of Extra Energy's customers will continue as normal and outstanding
credit balances will be protected.
In June 2016, the
credit balance was Sh88.8 million and the firm was blamed for having accounts that continue to reflect
credit balances despite being active.
Often the most overlooked and pushed-aside task is the clean-up of old
credit balances. Your goal is to collect money, not send it back out of the company.
"Customers need not worry, their supplies are secure and
credit balances are protected."
