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Why am I unable to have a refund of all my account credit?

  • 15 December 2018
  • 4 replies
  • 94 views

Can a member of the OVO team plz contact me regarding a query that I would like sorting out asap, or at least is there a member online that can help ?

Thanks
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Best answer by Transparent 17 December 2018, 11:17

Hi @loupoulo

OK, I can help some more. I understand the maths, and OVO have handled this according to Ofgem guidelines. Please allow me to explain:

An Energy Account is different to a "credit account" such as you might have with a builder's merchant. An Energy Company may not operate as a bank, where customer debts lie on its balance sheet until they are paid-off in arrears.

(And equally, Ofgem will only permit OVO to pay interest on the first £1000 of customer account credit, for the same reason. It cannot and must not operate as a financial institution!)

At this time of year energy use is increasing. The general guideline is that Pay-Monthly (Direct Debit) customers should now have one month's DD amount of credit on their account.

So if your account is in credit to £330 and your DD is currently £150, then they have refunded you the remaining £180. This leaves the account with one month's DD amount in credit, as per the guidelines.


There are other factors in play, but I'd need to know more about your account to explain these. It would help me if you filled out your Forum Profile page. This will help me to see the type of deal you've signed up for and when is the renewal date.

Please remember, I'm just a fellow customer. I don't have access to any of your account data within OVO!
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Userlevel 7
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Erm... well there's usually several of us online @loupoulo But you'll have to give us a bit more to go on than the subject of "Refund" please!

There are similar Topics elsewhere on the Forum:

This one is a Customer complaining that they can't obtain a refund from OVO

and here's another one about difficulties getting a refund after a customer has left OVO

The answer you seek may already be on one of those threads.
Hi, thanks for your reply, I have requested a refund today and it is being processed however I want a full refund of my credit. OVO are not refunding the amount I pay by DD even tho they have just today taken my DD off the credit balance.

So for eg, I pay £150 DD a month, last paid on 8th. Yesterday I had £480 credit, today the credit was £330. ( as expected as my last month bill has just been paid). So, I hoped for £330 refund but Ovo only refunding £180. I would like a full refund. Can u help?
Anyone? Why can I not have a full refund as explained above
Userlevel 7
Badge +3
Hi @loupoulo

OK, I can help some more. I understand the maths, and OVO have handled this according to Ofgem guidelines. Please allow me to explain:

An Energy Account is different to a "credit account" such as you might have with a builder's merchant. An Energy Company may not operate as a bank, where customer debts lie on its balance sheet until they are paid-off in arrears.

(And equally, Ofgem will only permit OVO to pay interest on the first £1000 of customer account credit, for the same reason. It cannot and must not operate as a financial institution!)

At this time of year energy use is increasing. The general guideline is that Pay-Monthly (Direct Debit) customers should now have one month's DD amount of credit on their account.

So if your account is in credit to £330 and your DD is currently £150, then they have refunded you the remaining £180. This leaves the account with one month's DD amount in credit, as per the guidelines.


There are other factors in play, but I'd need to know more about your account to explain these. It would help me if you filled out your Forum Profile page. This will help me to see the type of deal you've signed up for and when is the renewal date.

Please remember, I'm just a fellow customer. I don't have access to any of your account data within OVO!

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