Help to switch?

[Deleted User]

Fianw1 said:

[Deleted User] said:

No supplier is going to engage in a debate about splitting anything. All businesses require money as cash flow. If we all reverted to paying in abeyance, then the supplier would have to borrow more money to pay its wholesalers; pay staff etc. This would be reflected in higher energy bills going forward - along with a greater risk of supplier failure once we go back to some form of a Cap next April.

The present payment works for most people, but I agree it angers some. Like millions of others, my energy account is some £s in credit which will draw down as we get into Winter. My aim is to maintain enough credit to cover the following month's bill in full. To keep my DD payment at a low level, I just top up my account as required. My supplier keeps saying that I should pay more each month but, so far, it has not unilaterally changed my DD payment. 

The splitting remark was meant in jest, don’t be so uptight.  

I’m sorry but that sounds wrong, the company ovo/sse posted a cool 1.16bn profit, yes billion a jump of 23% from previous year so to say they need the interest from their customers credit that they’ve racked up sounds ludicrous. Why can’t they automatically give it back to the customers unless said customers specifically say they give permission for them to hold onto it. Why is it a complete mission to get them to give it back to you when you request it? With the smart meters able to read meters every half hour should be a price of cake. Profits like that at this time we are living in makes most normal people sick to their stomach. 

Ovo have banned me from their forum after asking these questions. Anyhow I have switched now and glad to be off their sucker wheel, much happier with deal I have penny cheaper per unit and 1.5p cheaper on st ch. payment on receipt of bill for exactly what I use. So fk em. I urge everybody who was swapped From SSE to OVO to ring the other suppliers and fight for every penny you can.  

I don't think I'll be taking business advice from an angry poster that gets banned from forums, thanks.

Well done, it sounds like you have found a supplier that is willing to take a debt on your behalf to buy the energy you are using, in the hope that you will pay them back in the future.

I wouldn't expect many to be so generous.

BUFF

Fianw1 said:

Dolor said:

No supplier is going to engage in a debate about splitting anything. All businesses require money as cash flow. If we all reverted to paying in abeyance, then the supplier would have to borrow more money to pay its wholesalers; pay staff etc. This would be reflected in higher energy bills going forward - along with a greater risk of supplier failure once we go back to some form of a Cap next April.

The present payment works for most people, but I agree it angers some. Like millions of others, my energy account is some £s in credit which will draw down as we get into Winter. My aim is to maintain enough credit to cover the following month's bill in full. To keep my DD payment at a low level, I just top up my account as required. My supplier keeps saying that I should pay more each month but, so far, it has not unilaterally changed my DD payment. 

The splitting remark was meant in jest, don’t be so uptight.  

I’m sorry but that sounds wrong, the company ovo/sse posted a cool 1.16bn profit, yes billion a jump of 23% from previous year so to say they need the interest from their customers credit that they’ve racked up sounds ludicrous. Why can’t they automatically give it back to the customers unless said customers specifically say they give permission for them to hold onto it. Why is it a complete mission to get them to give it back to you when you request it? With the smart meters able to read meters every half hour should be a price of cake. Profits like that at this time we are living in makes most normal people sick to their stomach. 

Ovo have banned me from their forum after asking these questions. Anyhow I have switched now and glad to be off their sucker wheel, much happier with deal I have penny cheaper per unit and 1.5p cheaper on st ch. payment on receipt of bill for exactly what I use. So fk em. I urge everybody who was swapped From SSE to OVO to ring the other suppliers and fight for every penny you can.  

Afaik OVO's latest registered accounts show profits of £370 million for 2021.
Of that £372 million was revaluation of energy derivatives contracts, the underlying business actually lost £2 million.
https://www.cityam.com/government-support-packages-rescue-ovo-energy-from-financial-turmoil/

[Deleted User]

BUFF said:

Fianw1 said:

Dolor said:

No supplier is going to engage in a debate about splitting anything. All businesses require money as cash flow. If we all reverted to paying in abeyance, then the supplier would have to borrow more money to pay its wholesalers; pay staff etc. This would be reflected in higher energy bills going forward - along with a greater risk of supplier failure once we go back to some form of a Cap next April.

The present payment works for most people, but I agree it angers some. Like millions of others, my energy account is some £s in credit which will draw down as we get into Winter. My aim is to maintain enough credit to cover the following month's bill in full. To keep my DD payment at a low level, I just top up my account as required. My supplier keeps saying that I should pay more each month but, so far, it has not unilaterally changed my DD payment. 

The splitting remark was meant in jest, don’t be so uptight.  

I’m sorry but that sounds wrong, the company ovo/sse posted a cool 1.16bn profit, yes billion a jump of 23% from previous year so to say they need the interest from their customers credit that they’ve racked up sounds ludicrous. Why can’t they automatically give it back to the customers unless said customers specifically say they give permission for them to hold onto it. Why is it a complete mission to get them to give it back to you when you request it? With the smart meters able to read meters every half hour should be a price of cake. Profits like that at this time we are living in makes most normal people sick to their stomach. 

Ovo have banned me from their forum after asking these questions. Anyhow I have switched now and glad to be off their sucker wheel, much happier with deal I have penny cheaper per unit and 1.5p cheaper on st ch. payment on receipt of bill for exactly what I use. So fk em. I urge everybody who was swapped From SSE to OVO to ring the other suppliers and fight for every penny you can.  

Afaik OVO's latest registered accounts show profits of £370 million for 2021.
Of that £372 million was revaluation of energy derivatives contracts, the underlying business actually lost £2 million.
https://www.cityam.com/government-support-packages-rescue-ovo-energy-from-financial-turmoil/

The poster has unfortunately not noticed that SSE (the multinational gas production, electricity generation, and distribution infrastructure company) no longer has anything to do with SSE (the retail brand of a different energy supply company).

Often the case with people who get very angry about corporate profits, that they get companies and even industry sectors confused with each other.

Spoonie_Turtle

Fianw1 said:
Why can’t they automatically give it back to the customers unless said customers specifically say they give permission for them to hold onto it. 

The consent for a company to hold onto people's money (although of course they're only holding onto what's not used to pay for energy) is very strongly implied by, y'know, *paying it*.

badger09

[Deleted User] said:

BUFF said:

Fianw1 said:

Dolor said:

No supplier is going to engage in a debate about splitting anything. All businesses require money as cash flow. If we all reverted to paying in abeyance, then the supplier would have to borrow more money to pay its wholesalers; pay staff etc. This would be reflected in higher energy bills going forward - along with a greater risk of supplier failure once we go back to some form of a Cap next April.

The present payment works for most people, but I agree it angers some. Like millions of others, my energy account is some £s in credit which will draw down as we get into Winter. My aim is to maintain enough credit to cover the following month's bill in full. To keep my DD payment at a low level, I just top up my account as required. My supplier keeps saying that I should pay more each month but, so far, it has not unilaterally changed my DD payment. 

The splitting remark was meant in jest, don’t be so uptight.  

I’m sorry but that sounds wrong, the company ovo/sse posted a cool 1.16bn profit, yes billion a jump of 23% from previous year so to say they need the interest from their customers credit that they’ve racked up sounds ludicrous. Why can’t they automatically give it back to the customers unless said customers specifically say they give permission for them to hold onto it. Why is it a complete mission to get them to give it back to you when you request it? With the smart meters able to read meters every half hour should be a price of cake. Profits like that at this time we are living in makes most normal people sick to their stomach. 

Ovo have banned me from their forum after asking these questions. Anyhow I have switched now and glad to be off their sucker wheel, much happier with deal I have penny cheaper per unit and 1.5p cheaper on st ch. payment on receipt of bill for exactly what I use. So fk em. I urge everybody who was swapped From SSE to OVO to ring the other suppliers and fight for every penny you can.  

Afaik OVO's latest registered accounts show profits of £370 million for 2021.
Of that £372 million was revaluation of energy derivatives contracts, the underlying business actually lost £2 million.
https://www.cityam.com/government-support-packages-rescue-ovo-energy-from-financial-turmoil/

The poster has unfortunately not noticed that SSE (the multinational gas production, electricity generation, and distribution infrastructure company) no longer has anything to do with SSE (the retail brand of a different energy supply company).

Often the case with people who get very angry about corporate profits, that they get companies and even industry sectors confused with each other.

Please don’t let any factual information get in the way of this rant