With a lot of news stories in last few days about OVO missing its resilience targets set for it by Ofgem, should we be worried about our energy suppliers ability to remain suitably solvent?
Will this mean customers having to have their Direct Debits further inflated to maintain at least 2 months worth of energy payments by the end of March 2026, or will we be supplied by Scottish Power by then?
Best answer by Chris_OVO
Hey
“OVO is a fully funded entity backed by long standing shareholders and with ongoing facilities from the likes of Shell.
Capital adequacy requirements are new, and all suppliers are working with them for the first time.
This is not a reflection on our ability to serve our customers or on performance this year and we will continue to focus on bringing innovation and long term investment to the sector.”
Soon to be more money in the coffers after the DOUBLEING of the charge anytime rate to 14p/kw. Only trouble is a loss on EV customers as we all jump ship.
Hey
“OVO is a fully funded entity backed by long standing shareholders and with ongoing facilities from the likes of Shell.
Capital adequacy requirements are new, and all suppliers are working with them for the first time.
This is not a reflection on our ability to serve our customers or on performance this year and we will continue to focus on bringing innovation and long term investment to the sector.”
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