more than what they said !

janey70

hi can some one try and figure out what has happened here because i cant ! i came to the end of my energy contract with edf so last week went on to moneysupermarket to find and compare gas and elec prices .
so i found one from OVO energy fixed term it said i should be paying roughly £852 annually which was ok as i worked that out to be about £71 a month for both , but today i received an email from them with my direct debit guarantee and telling me how much i will be paying and nearly fainted when i read it and it said £89 p/m !!! dont think i have ever paid that much in my life and yes i no prices are going up but im at work most of time so not a really heavy user or in a large house . so what has happened cant ring them till monday but need some advice what can i do can i cancel if they say thats what ive got to pay ? i havnt even given them any meter readings as they havnt asked for any ?
Also do i cancel my direct debit with edf on 1st of november as ovo are taking there payment on 15th nov so that will be £165 for one month money i cant afford :0( very stressed someone help plz x :mad:

Wywth

janey70 wrote: »

hi can some one try and figure out what has happened here because i cant ! i came to the end of my energy contract with edf so last week went on to moneysupermarket to find and compare gas and elec prices .
so i found one from OVO energy fixed term it said i should be paying roughly £852 annually which was ok as i worked that out to be about £71 a month for both , but today i received an email from them with my direct debit guarantee and telling me how much i will be paying and nearly fainted when i read it and it said £89 p/m !!! dont think i have ever paid that much in my life and yes i no prices are going up but im at work most of time so not a really heavy user or in a large house . so what has happened cant ring them till monday but need some advice what can i do can i cancel if they say thats what ive got to pay ? i havnt even given them any meter readings as they havnt asked for any ?
Also do i cancel my direct debit with edf on 1st of november as ovo are taking there payment on 15th nov so that will be £165 for one month money i cant afford :0( very stressed someone help plz x :mad:

Ovo doesn't like their customers accounts being in debit, so as it's approaching the more expensive winter period and you've just switched to them, you'll pay more per than 1/12 of your total energy bill per month at this time of year.

More info on their website.
http://www.ovoenergy.com/wp-content/uploads/2011/06/Understanding_the_link_between_your_Direct_Debit_and_energy_consumption.pdf

Btw, they also pay tax free interest on any credit on your account (@3.15% p.a. after VAT effect is considered)

Do not cancel any DD mandate until you get a final bill. (it may not even be necessary if the supplier collects the final payment using the correct transaction code)

macman

Bear in mind that you would normally go into the expensive winter period carrying some credit on your account, this will not be the case if you are going on supply until around mid-November. If you switched last week then you will not be on supply for another 3-4 weeks yet though.
No, you should not cancel your EDF DD until you have received your final billing after the switch date. That is the date you need to supply an opening reading, it's of no use to them at this stage.

janey70

macman first payment from ovo is due 15th november think i applied on 3rd of october just checked emails

macman

That's about right, around 42 days. You may be able to ask OVO to move your DD date to month end?
After 18 days you are now beyond the cooling-off period (14 days), so you can't cancel without penalty, if applicable.

janey70

thanks macman for explaining . ovo have said on email they only take direct debits on 15th and 1st of month ,so cant see them waiting an extra 2 weeks for there money somehow :0/

macman

You can only ask, once you have a firm switch date.

Terrylw1

You need to question why your quote doesn't match their offer now.

There is some cover around this issue from Ofgem to tighten up on miss selling that you could be referred to but it could be an error.

It could also be that they are using industry forecasts for your meters that don't match your data inputted to the comparison site you used.

Wywth

Terrylw1 wrote: »

You need to question why your quote doesn't match their offer now. ...

Maybe because Ovo never offered this. It's a misleading thread title based upon an incorrect assumption by the OP.

I explained the real situation in post#2

janey70

wywth seems to be right i think ive read my emails from them again it does say there charging me 25% more because of winter :0/

what im thinking of doing is cancelling the direct debit even though the cooling off period has expired and they will charge me £60 which i should imagine they will bill me for ,as i really dont have enough money to pay edf £75 on 1st november then ovo £89 on 15th november and then i might have to do that again the following month if edf decide i owe them money on final bill ???

Terrylw1

Wywth wrote: »

Maybe because Ovo never offered this. It's a misleading thread title based upon an incorrect assumption by the OP.

I explained the real situation in post#2

The comparison site did as it offered the annual value and the OP wasn't aware until later that OVO vary by season.

Perhaps it needs to be clearer on comparison site or it already there for OVO?