OVO Electricity Supplier

bobpat_2

Hi, Has anyone got any comments about OVO?. We are considering changing to them from EON.

sonyhamster

bobpat wrote: »

Hi, Has anyone got any comments about OVO?. We are considering changing to them from EON.

Personally I can't ring enough praises about them..

Myself and my parents were with them and they were excellent.

Amazing customer service, online billnig, very competitive rates...

They even have a scheme where if you are in credit, they'll add 4% interest on to it!

Plushchris

Lots of comments here.. https://forums.moneysavingexpert.com/discussion/3387238

uptomyeyeballs

I've just moved to OVO. I've heard good things about them and am willing to give them a go after being shafted by the Scottish Power rises.

Stompa

sonyhamster wrote: »

They even have a scheme where if you are in credit, they'll add 4% interest on to it!

Sadly it's only 3%!

Fred_Bear_2

I've been with OVO since 1st November 2010. I am very happy with the customer service, they speak clear English, deal with queries quickly, are very friendly and the helpline is an 0800 number. Also the statements are well laid out and easy to understand. And they give you 3% tax free interest on credit balances. I recommend them.
I receive a monthly statement dated 14th. I like to get accurate bills so I give them my meter readings each month.

However I have had some 'problems':

They stated that my first bill would be on 14th December but nothing was received till 14th January.

In January and February I submitted my meter readings using the Contact us/Meter reading web page. They did not use it. When I phoned them they told me that this 'portal' did not work: instead I should login first, then enter my reading on another page.

If I read the meters on 13th they show my readings then an estimate for the 14th. Not wrong, but makes the statement unnecessarily complicated.
If I read the meters on 15th, even if the bill is produced on 21st the reading is not used even to assist an estimate.

One month a meter reader came just before my reading date so I did not bother to submit my own reading. But OVO did not use this reading and never have. Apparently meter reader readings are used only to verify that customers are submitting valid readings.

One month they did not produce an online statement until I phoned for one.

Usually statements do not indicate whether readings are estimated or not. This could be improved.

One month my statement included a payment for a future month. This worked to my advantage as I received a larger interest credit.

At the end of the winter I had built up a large credit balance. They were reluctant to reduce my direct debit even though my credit balance will be huge by the end of the summer. Of course I am receiving 3% net interest, so it is a sort of savings account, but what happens if OVO go bankrupt, will my savings be safe?

I hope to stay with OVO when my contract ends, but I will review it in October.

Sterling

Fred_Bear wrote: »

Of course I am receiving 3% net interest, so it is a sort of savings account, but what happens if OVO go bankrupt, will my savings be safe?

Ovo is not a bank, so sadly your credit balance does not enjoy the limited protection that the Government gives to customers of UK banks.

Nevertheless, Ovo appears to be a well run company. Companies usually go bust when they have been running at a loss or they have failed to keep a proper control of cash flow. I doubt that Ovo is running at a loss, and it certainly is good at controlling its cash flow. That is why customers like you (and me) are in credit; and at least Ovo is paying a reasonable rate of interest on monthly credit balances.

Gerrard_8_lfc

Expensive at my current consumption.

uptomyeyeballs

Gerrard_8_lfc wrote: »

Expensive at my current consumption.

What is your current consumption, if i may be so bold as to ask?

Fairzo

Although Ovo has proved "reluctant" to reduce my monthly direct debit it does not seem concerned with refunding my credit balance when requested. I've asked for a refund twice during the last few months and the agreed sum has been credited to my bank account within a few days. The Company wants to keep a balance of equivalent to least one months direct debit amount which seems fair enough.

uptomyeyeballs

When do OVO give you an online login? Should I have it right from the start? I changed on 15th July but haven't had any advice yet