OVO transfer

tdespero

We have just transferred from OVO, we are waiting for our final bill. The account was a couple of hundred pounds in credit and we expect most of this will be returned to us.

Normally the bill arrives in the first few days of the month,we are concerned that its taking longer this time despite smartmeter final readings.

Is our credit balance safe in the E on takeover?

la531983

All credit balances are protected under OFGEM regulations.

QrizB

Normally the bill arrives in the first few days of the month,we are concerned that its taking longer this time despite smartmeter final readings.

For a transfer away, you won't get a final bill until your new supplier submits your handover reading for validation via the industry workflow, it's validated and that validated reading is then passed to your old supplier.

This can take a while and frequently does. As a result your old supplier is allowed six weeks to generate a final bill.

Who is your new supplier? Some seem to be quicker than others to do their part.

Scot_39

The old supplier has 6 weeks to issue a final bill - and another 2 weeks from its issue (or rather 10 working days in case of bank holidays iirc) to pay any final refund into your account - normally via the DD credit mechanism - so often advised "don't close DD down" when move account.

Some will be faster, but others for some sadly do hit the 6 weeks and have to pay the iirc £40 penalty for being late (even if its the new supplier or third party validation company responsible for delays).

It can actually be quicker to request a refund and then transfer away having done so if need the money "quickly" - e.g. to pay an upfront payment to new supplier. But small amounts in order of 1-2 months DD can often be caught in suppliers requirements for pre winter credit - and Ovo iirc is one where they have 1 m minimum in Mar target on annualised plan - so you might not get any or all of a small amount back via that route.

That 8 week target time - over twice the period for an in contract refund (c3 weeks / 15 working days at EOn Next iirc - others ?)