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I'm switching from Economy Energy to OVO, will the switch still go ahead?

  • 8 January 2019
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I'm in the middle of switching to OVO from Economy Energy which went out of business today.

https://www.ofgem.gov.uk/publications-and-updates/ofgem-protects-customers-failed-supplier-economy-energy

I submitted my meter readings about 2-3 weeks ago but my switch doesn't appear to be complete so I was wondering if I need to anything? I know it normally takes up to 6 weeks.

Also I have a sizeable credit with Economy Energy presumably I will need to sit tight and wait for Ofgem to appoint a new supplier? This is what Ofgem says on their FAQs.

Q: I’m already in the process of switching supplier and it’s not yet complete. Will my switch go through and is my credit balance protected?

A: You don’t need to worry. If it’s already in progress, you will continue to be moved to the new supplier you have chosen. You don’t need to do anything. When your switch completes and the account with your old supplier is closed, you may be owed money if your account had built up credit with the old supplier. We'll look to appoint a supplier who will pay back money owed to you that's outstanding from a closed account.

All comments welcome.
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Best answer by Eva_OVO 10 January 2019, 16:24

I'm in the middle of switching to OVO from Economy Energy which went out of business today.

https://www.ofgem.gov.uk/publications-and-updates/ofgem-protects-customers-failed-supplier-economy-energy

I submitted my meter readings about 2-3 weeks ago but my switch doesn't appear to be complete so I was wondering if I need to anything? I know it normally takes up to 6 weeks.


If you've submitted meter readings it sounds like you're already on supply with us. We'll only ask for meter readings 5 days before or after your supply start date.

Your supply start date will be in your welcome pack, this would've been sent via email/post -check this to see when you're due to come over to us.

It takes 4-6 weeks to validate the opening meter readings, until this is done your online account won't have much functionality. This will update as soon as you receive your first statement.

Also I have a sizeable credit with Economy Energy presumably I will need to sit tight and wait for Ofgem to appoint a new supplier? This is what Ofgem says on their FAQs.

Q: I’m already in the process of switching supplier and it’s not yet complete. Will my switch go through and is my credit balance protected?

A: You don’t need to worry. If it’s already in progress, you will continue to be moved to the new supplier you have chosen. You don’t need to do anything. When your switch completes and the account with your old supplier is closed, you may be owed money if your account had built up credit with the old supplier. We'll look to appoint a supplier who will pay back money owed to you that's outstanding from a closed account.


Ofgem's offered the best advice here, hopefully you'll be able to get this sorted soon! 🙂
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I'm in the middle of switching to OVO from Economy Energy which went out of business today.

https://www.ofgem.gov.uk/publications-and-updates/ofgem-protects-customers-failed-supplier-economy-energy

I submitted my meter readings about 2-3 weeks ago but my switch doesn't appear to be complete so I was wondering if I need to anything? I know it normally takes up to 6 weeks.


If you've submitted meter readings it sounds like you're already on supply with us. We'll only ask for meter readings 5 days before or after your supply start date.

Your supply start date will be in your welcome pack, this would've been sent via email/post -check this to see when you're due to come over to us.

It takes 4-6 weeks to validate the opening meter readings, until this is done your online account won't have much functionality. This will update as soon as you receive your first statement.

Also I have a sizeable credit with Economy Energy presumably I will need to sit tight and wait for Ofgem to appoint a new supplier? This is what Ofgem says on their FAQs.

Q: I’m already in the process of switching supplier and it’s not yet complete. Will my switch go through and is my credit balance protected?

A: You don’t need to worry. If it’s already in progress, you will continue to be moved to the new supplier you have chosen. You don’t need to do anything. When your switch completes and the account with your old supplier is closed, you may be owed money if your account had built up credit with the old supplier. We'll look to appoint a supplier who will pay back money owed to you that's outstanding from a closed account.


Ofgem's offered the best advice here, hopefully you'll be able to get this sorted soon! 🙂

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