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?
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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OVO Energy Ltd, Floor 5, Crescent, Temple Back, Redcliffe, BS1 6EZ, (Company no. 06890795) registered in England and Wales.
OVO (S) Gas Limited is registered in England and Wales (Company No. 02716495) at Floor 5, Crescent, Temple Back, Redcliffe, BS1 6EZ.
OVO (S) Gas Limited is part of OVO Group Ltd
