Ovo direct debit manipulation

Consumerist

I noticed a couple of months ago that Ovo Gas Ltd., of the same address as Ovo Energy, has been granted a gas shipper licence.

Anyone got any idea why a company which neither extracts nor generates energy would want a gas shipper licence?

Perhaps they think they are one of the big six already.

backfoot

Wywth wrote: »

Yeah, then we will all have to pay the additional 11% for government schemes including environmental & social schemes just like all big 6 customers do.

That's certainly what the EDF boss wanted to see - a level paying field where he could compete with the smaller suppliers that are not currently lumbered with these charges.

What big 6 supplier gives their customers 3.15% pa tax free interest paid monthly on accrued credit?

Why aren't OVO 11% cheaper?

Do you have a source for the EDF statement ?

Scottish Power have a scheme paying amounts for credit balances.

Wywth

backfoot wrote: »

Why aren't OVO 11% cheaper?

Do you have a source for the EDF statement ?

Scottish Power have a scheme paying amounts for credit balances.

Ovo are one of the cheapest suppliers offering a fixed tariff today:)

The EDF boss was speaking to the parliamentary select commitee a few months back (with the Ovo boss plus one other supplier). You should be able to find it on the internet, or at least the transcript. It was a few months back now.
I watched it on BBC parliament.
(It was also where he clarified EDF were making a loss - at least the distribution arm; the generating side is a different business and he had to buy at a regulated price)

SP do indeed have a scheme, but it's no where near as generous as the Ovo one is it

Wywth

Consumerist wrote: »

I noticed a couple of months ago that Ovo Gas Ltd., of the same address as Ovo Energy, has been granted a gas shipper licence.

Anyone got any idea why a company which neither extracts nor generates energy would want a gas shipper licence?

Perhaps they think they are one of the big six already.

No idea, but there appears to be loads of companies that were granted a gas shipper licence

http://www.ofgem.gov.uk/Licensing/Work/Notices/Licences/Pages/LicGranted.aspx

including newcomer, Open4Energy Limited.
(I don't think they are one of the big 6, nor produce any energy themselves either)

backfoot

Wywth wrote: »

Ovo are one of the cheapest suppliers offering a fixed tariff today:)

The EDF boss was speaking to the parliamentary select commitee a few months back (with the Ovo boss plus one other supplier). You should be able to find it on the internet, or at least the transcript. It was a few months back now.
I watched it on BBC parliament.
(It was also where he clarified EDF were making a loss - at least the distribution arm; the generating side is a different business and he had to buy at a regulated price)

SP do indeed have a scheme, but it's no where near as generous as the Ovo one is it

OVO fixed deal lies behind Scottish Power ,First Utility and EDF for me. The fixed period is also much shorter.

SP describe their DD scheme as follows;

'What’s more, if your account has a credit balance at the time of your next annual review, we’ll actually give you money back. ScottishPower will pay you £1 for every full multiple of £33 above a minimum credit value of £100. That’s £1 if your credit balance is £133, £2 if it’s £166 and so on, right up to the maximum payout of £12 for a credit balance of £496. We’re the only energy company to currently offer this kind of reward.'

Are you sure that OVO don't pay the same towards Government Schemes? If they don't, they must be retaining the difference as profit as it doesn't seem to be used as a competitive price advantage.

Can't find anything on the internet relating to your claims. Perhaps, you could provide the source.

The thread is about OVO's DD manipulation which you seem keen to try and divert attention away from. The interest payment is a good feature, but only if you have savings, to be able to fund OVO with.

If customer's sign up to OVO they may be in for a nasty shock. Eon revisited.

Wywth

backfoot wrote: »

If customer's sign up to OVO they may be in for a nasty shock. Eon revisited.

As a customer who has in the past signed up for Ovo, I can assure you I had no nasty shocks.:)

Btw, the price difference for say a user based in the west midlands supply region using the average household consumption is just £7 between EDF and Ovo based on an EDF £1162 annual bill.

It's not much more for FU - £8 total difference

Scottish Power is £23 cheaper

But as I said:

Wywth wrote:

Ovo are one of the cheapest suppliers offering a fixed tariff today:)

... so thanks for confirming everyone else is more expensive for you too

Still, we all love a good internet conspiracy theory - keep 'em coming :cool:

backfoot

Wywth wrote: »

Still, we all love a good internet conspiracy theory - keep 'em coming :cool:

You will have to explain that one....:rotfl:

Couldn't you find the details of your claim that OVO are exempt from the 11% Government Schemes?

Wywth

backfoot wrote: »

You will have to explain that one....:rotfl:

Couldn't you find the details of your claim that OVO are exempt from the 11% Government Schemes?

Yes, I told you were I heard it. I think this was it:
http://www.bbc.co.uk/programmes/b01mzs10

Of course it won't be on BBC iplayer as it was a few months back now, but as I said, I'm sure you could find it on the world wide wait somewhere if you are that interested.

Or try contacting the EDF man himself - Martin Lawrence

backfoot

That's helpful....:D

A 2 hour programme which can't be played.

:rotfl:

Surely you can find the specific point you made elsewhere.Sadly I couldn't find it. Or ask the EDf Chief.;)

Wywth

D'oh, cant you use a search engine or are you just trying to wind me up? (Backfoot trying to wind someone up - now that would be a novel idea wouldn't it)

Here's the official transcript:
http://www.publications.parliament.uk/pa/cm201213/cmselect/cmenergy/c554-i/c55401.htm

I can't be nothered to read through the whole thing now, but I certainly could tell there was tension bewteen the EDF guy and the Ovo guy.

Anyway, I have found Phil Bentley (from Ebico) said:

One of the reasons why we do not have new entrants is the complexity of billing and procuring energy, and that is one point to reflect upon. I totally disagree with what Stephen said there. It is not surprising I would say that, but one thing just to make clear is the social costs-and we will come on to this-and certainly the environmental costs, which are going up and up every year. Small suppliers do not have to bear their share of that, and that is becoming quite a big issue as the costs go up and up. That is something to reflect on, whether we really have a market that is equal for all entrants. From our point of view, if you have a big cost advantage by not having to bear that social and environmental cost, that does not feel the right position to take.

That was in a response to something Stephen Fitzpatrick (from Ovo) said:

I represent Ovo Energy, an independent supplier, and I would say that the Big Six try very hard to sound different but they are all fundamentally the same. They have all come from ex-monopoly situations. They all have incumbent customer bases, and we feel that they squeeze all of the charges, all of the environmental costs and social costs, and a lot of the regulatory costs, on to those legacy customers and have an unfair advantage in winning new customers at a loss.

So that explains why they are not the absolute cheapest supplier compared to the cheapest of some of the other big 6 suppliers tariffs