MSE News: Will the energy big guns follow Ovo's price rise?

Terrylw1

Question: A supplier has put their prices up, will the rest follow.
Answer: Miss an opportunity to jump on the back of the firestarter, I think not...but first they need to spend some time creating some confusing options to try and push you into a lock in or switch.

Is this really a question?

Rupert_Bear

Well my fix finished two days ago with OVO and am delighted to be moving away from them. I am going back to SP who I had been with for about 4 years prior to my move to OVO and only left on price. Also with OVO they always expect you to be in credit and are so terrified you may slip into debit they quickly raise your dd. As we are now existing the winter period I am still over £400 in credit.

Consumerist

Rupert_Bear wrote: »

. . . Also with OVO they always expect you to be in credit and are so terrified you may slip into debit they quickly raise your dd. As we are now existing the winter period I am still over £400 in credit.

It is true that Ovo now builds in a one month credit balance at the end of a year which, in my view, is an abuse of the Direct Debit system. It is also true that they pay 3% pa net interest on any credit balance.

The problem is that if you have other bills to pay - and who hasn't - then a high credit balance with Ovo may prevent you from using that money to pay other pressing bills and incurring higher charges elsewhere.

I'm currently with Ovo, on price, but very nearly switched to SP at the end of the last contract; then Ovo cut its prices and I cancelled the switch. Ovo might not be so lucky next time - we'll see.

Stompa

Rupert_Bear wrote: »

Also with OVO they always expect you to be in credit and are so terrified you may slip into debit they quickly raise your dd.

That has not been my experience, my balance is currently around -£30.

beefturnmail

Mine neither - I am currently £50 in debit largely becasue when my fixed price deal ended my monthly dd should have increased to reflect the increased prices, but it didn't and I obviously wasn't going to volunteer to pay more earlier...

I do submit regular meter readings, and Ovo never once questioned my requests to reduce the dd amounts to reflect actual usage.

I have been generally happy with Ovo and their customer service etc, but their recent price hikes mean they are no longer competitive for me - I can save 10% and get a free case of wine by switching and that is what I have done.