OVO Energy - best avoided

Ogee

I've been with OVO for 18months, a few things have gone wrong, but always sorted quickly by the very pleasant ladies on their helpline. As tOrtOise said - if your account is in credit, they pay you 3% interest. And that's a discount on your account before they add the 5% vat, so actually equivalent to 3.15%. They're trying hard to keep their costs down, so the DD rate is set by a computer and it may not be quite right if you're not an average customer. So then you're either in debit (they don't charge you for that) or you're in credit and they pay you 3.15%. Is there another energy company that does better? If so, I need to know about it!

colins2

Hmmm, quite a mixed bag of experiences here!
I've been with OVO for a few years and had no problems at all. I have always been able to supply my meter readings when I'm home.
They did email to tell me they wanted to increase the DD but I simply emailed back and told them not to as I didn't think it necessary. This was accepted with just a reminder that I should stay in credit.
As T0rt0ise mentions above, they pay 3% interest so being in credit is not a bad thing anyway.
I'm quite happy to sign to continue with them for another year when my existing contract is up in October,

[Deleted User]

Hi Balmore2011, with such a huge demand like that of £7000, have you found out why this has come about. Are they disputing the readings you have been sending in ? Is the meter a digital meter, possibly with transposed readings over the years. I am all electric virtually, ( gas cooker only ) and even in the summer months i am well over £20 a month and I am out all day 6 days a week

Fred_Bear_2

Ogee wrote: »

As tOrtOise said - if your account is in credit, they pay you 3% interest. And that's a discount on your account before they add the 5% vat, so actually equivalent to 3.15%.

And it is income tax free, so equivalent to 3.94 % if you pay standard rate tax. I treat it as a savings account.

Fred

mon2000

OVO do NOT automatically pay back money owned to you! Make sure you cancel your DD when you leave, or they will continue collecting from your account!

All this has happened to me. I had to stop and ask for a return of my money, which was owed to me because they over-charged me. They also kept collecting the DD amount of £79 per month after my contract was transferred to a new supplier. When I contacted them, I was told: "We have no automatic repayment system in place and you have to ask for your money after you receive your final statement, if there is any credit left." (May I also mention at this point that I received about 20 messages about me leaving OVO and that I would be welcome back at any time in the future. This will definately NOT happen, )

If you are a vulnerable person or find it difficult to keep tract of your paper work DON'T CHOOSE OVO!!!!

Wywth

mon2000 wrote: »

OVO do NOT automatically pay back money owned to you! Make sure you cancel your DD when you leave, or they will continue collecting from your account!

All this has happened to me. I had to stop and ask for a return of my money, which was owed to me because they over-charged me. They also kept collecting the DD amount of £79 per month after my contract was transferred to a new supplier. When I contacted them, I was told: "We have no automatic repayment system in place and you have to ask for your money after you receive your final statement, if there is any credit left." (May I also mention at this point that I received about 20 messages about me leaving OVO and that I would be welcome back at any time in the future. This will definately NOT happen, )

If you are a vulnerable person or find it difficult to keep tract of your paper work DON'T CHOOSE OVO!!!!

BORING!

Another user ID (this one dug up from 2009), another thread, another month, but the same old, alarmist, scare story :cool:

https://forums.moneysavingexpert.com/discussion/4368461