OVO greed

Ihammond

hi All - i pay OVO a LOT every month, i'm constantly in credit but their annual calculations always show that i should be paying more (for them to keep on special deposit i'm sure), as it's calculated annually.  What do you think of the following - i currently pay £436 per month - i'd actually worked out that even if my bills doubled that would see me through to the big rise in Jan - i was £281.67 in credit. my dual fuel bill was £396.70. Without my consent they've just increased my direct debit from £436 to £872 putting a nett £756 credit into their special deposit account . They shut at 6pm so i can't negotiate with them tonight. Last time i rang to stop them increasing for no reason they kept me on hold for 30 minutes which cost quite a bit - I'm not a belligerent person but cancelling my direct debit for next month to force my point seems quite tempting. What do you think i should do ??  So much for their CEO's 'PR' nonsense. 

Ihammond

Apologies, slight error i'm now in credit by £724 - not quite as much - so sorry OVO 

GingerTim

What are your actual usage figures in kwh for the last twelve months, and what are the unit rates on your tariff?

[Deleted User]

I think you should predict your total annual cost including all the likely price rises in the next twelve months, and then calculate a required direct debit to cover that.  Not an "up to Jan" number or anything similar.

At that point, you can call them and request a change - you will have some actual evidence that backs you up.

It's not a "special deposit" - it's a required protection against bill shock and debts.  This isn't a conspiracy.

pochase

Can you give us your usage for the last 12 month?

If you cancel your direct debit you are increasing your bill by 7%, I don't think they will see this as very bad for them.

Ihammond

I'm intelligent enough to work out what my bills are going to be monthly and am happy to pay. I'd already worked out that early 2023 i'd need to double my payments but 'up to Jan' the current amount was enough. What i resent is corporates helping themselves without authorisation, i know it's not a conspiracy i'm not an idiot but it is greed ... re 'protection against bill shock and debts' .... for who ?

[Deleted User]

But that's not how the direct debit calculation works.  They don't just calculate "up to Jan", they calculate the full 12 months.

If you don't like it, switch to variable direct debit and just pay for what you use.  As you say, you're intelligent enough to work out what that is going to be.  No worry about credit in the account, nobody "helping themselves" as you decide to term it, and the money stays in your account as long as possible.

Effician

[Deleted User] said:

But that's not how the direct debit calculation works.  They don't just calculate "up to Jan", they calculate the full 12 months.

If you don't like it, switch to variable direct debit and just pay for what you use.  As you say, you're intelligent enough to work out what that is going to be.  No worry about credit in the account, nobody "helping themselves" as you decide to term it, and the money stays in your account as long as possible.

No variable DD option with OVO.

[Deleted User]

Effician said:

[Deleted User] said:

But that's not how the direct debit calculation works.  They don't just calculate "up to Jan", they calculate the full 12 months.

If you don't like it, switch to variable direct debit and just pay for what you use.  As you say, you're intelligent enough to work out what that is going to be.  No worry about credit in the account, nobody "helping themselves" as you decide to term it, and the money stays in your account as long as possible.

No variable DD option with OVO.

But there is with other companies who might be accepting new customers.  If you are not a 'believer' in fixed direct debit and you think your supplier is greedy and requires resentment, surely that is a reason to change supplier to someone who offers the customer service (read "payment options") that you require.

QrizB

Deleted_User said:

Effician said:

No variable DD option with OVO.

But there is with other companies who might be accepting new customers.

Octopus and EDF are the usual suspects; both offer variable DD and might still be taking customers.

I'm with Octopus and manage my DD manually. Currently set at £10 a month (I had some credit to use up and summer's a low-bills period for my household).

Effician

Deleted_User said:

Effician said:

[Deleted User] said:

But that's not how the direct debit calculation works.  They don't just calculate "up to Jan", they calculate the full 12 months.

If you don't like it, switch to variable direct debit and just pay for what you use.  As you say, you're intelligent enough to work out what that is going to be.  No worry about credit in the account, nobody "helping themselves" as you decide to term it, and the money stays in your account as long as possible.

No variable DD option with OVO.

But there is with other companies who might be accepting new customers.  If you are not a 'believer' in fixed direct debit and you think your supplier is greedy and requires resentment, surely that is a reason to change supplier to someone who offers the customer service (read "payment options") that you require.

I left OVO 6 weeks ago due to frustration with their poor customer service ,creative future usage estimates & lack of variable DD option, all is now well.