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The end of the interest payment to help the customers pay the right amount through direct debit

  • 22 January 2024
  • 59 replies
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59 replies

S
Rank

@Jeffus thanks, I did check first before putting the £1000in that I would get it back if OVO went bust. In fairness to OVO they took time out to check for me before coming back and confirming.

S
Rank

@Abby_OVO thanks but that link wasn’t helpful at all. Given that I’m still in control of my own DDs what is to stop me putting plenty of money aside still by being in plenty of credit? Would something kick in and automatically return money to me, as that link failed to say?

Jeffus
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Userlevel 7
Badge +2

@Abby_OVO thanks but that link wasn’t helpful at all. Given that I’m still in control of my own DDs what is to stop me putting plenty of money aside still by being in plenty of credit? Would something kick in and automatically return money to me, as that link failed to say?

The link said this rather than an automated process

"Managing your account balance

If your account is in credit by more than one Direct Debit monthly amount, you can now request a refund or review your Direct Debit via your online account."

So I did this and the money is in my bank account now.

 

H
Rank
Userlevel 2

It must be nice to have access to your account so you can easily do things like this.

Some of us can’t.

S
Rank

@Hadders52 why doesn’t OVO let you have access to your account? Have you asked them?

H
Rank
Userlevel 2

There are quite few of us who have not had access to our on-line accounts for nearly a year now.

If we need to interact with Ovo we have to join the queue waiting for a chat, then go through the whole palaver of verifying ourselves etc. etc. so every interaction takes around 30 minutes.

This is the only way we can find out what our balance is or change Direct Debits, or ask for refunds etc.

The worst part is that Ovo have not sent us even one email to keep us informed about what is happening.

I see from this forum that others have had an email saying that the 5% reward is being stopped, but I haven’t even had this.

S
Rank

@Jeffus that’s not what I meant. This system has been introduced to stop people having too much in credit. How does it stop it? If I put £1000 into my account does it send it back to me saying I’ve got too much credit? No, it doesnt. So this system hasn’t stopped people having too much credit its at best just disincentivised them from doing so but certainly doesn’t stop people which was supposed to be the aim. Why can’t adults be allowed to look after their own money and get 5% back??? A year ago I had to argue for ages to not put my DD up on the phone as I had about £1500 in credit but OVO wanted me to increase my DD despite this. As an adult I felt I should control my own finances and not OVO, I finally won but it was hard work. The point there is don’t trust OVO to look after your finances when you know you know better but here with the removal of the interest we are forced to. I am out of contract now thankfully so I can get away from this situation. Februarys task is to move supplieras there’s no incentive now to keep me with OVO.

S
Rank

There are quite few of us who have not had access to our on-line accounts for nearly a year now.

If we need to interact with Ovo we have to join the queue waiting for a chat, then go through the whole palaver of verifying ourselves etc. etc. so every interaction takes around 30 minutes.

This is the only way we can find out what our balance is or change Direct Debits, or ask for refunds etc.

The worst part is that Ovo have not sent us even one email to keep us informed about what is happening.

I see from this forum that others have had an email saying that the 5% reward is being stopped, but I haven’t even had this.

That’s awful. That’s not fair. OVO should not treat people like this it should be one way for everyone or not at all. I hope they have dipped into their profits and compensated you heavily for this. OVO man up and treat everyone equally - there are laws about this these days its 2024 not 1824. 

Blastoise186
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Userlevel 7
Badge +1

Sigh… I really didn’t want to have to write this…

The legacy billing system Apollo had some nasty flaws in it that were basically tearing apart the online services. It was no longer viable to continue keeping them active because doing so would have led to more damage. OVO didn’t want to have to do it, but they had no choice.

That is why only about 1,000 or so customers can’t use online services right now.

Everything beyond that is, I’m afraid, confidential. But it is for the best, trust me.

Securing energy by zapping security bugs... For that is The Blastoise Way!
Emmanuelle_OVO
Rank
Userlevel 7

Removal of the Interest Reward

 

In the past, some of our plans have been eligible for the OVO Interest Reward. Customers on these plans, who kept their energy account balance in credit, were paid interest. This interest was paid on the positive account balances that were higher than their Direct Debit amount.  

 

Due to the rule changes on where Direct Debit payments must be as accurate as possible and that we must not let credit build up excessively. The aim is for our customers’ payments to accurately cover their energy usage over 12 months – leaving them with a balance of 0. 

 

What does this mean for our customers?

 

These changes mean that it’s no longer possible for us to offer the OVO Interest Reward in a way that gives our customers the best value. Because of this, the scheme will be closing. 

 

If your account is in credit by more than 1 month's Direct Debit amount, you can now request a refund or review your Direct Debit via the online account.

 

 

Renewable Energy? Big Fan.
Jeffus
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Userlevel 7
Badge +2

@Jeffus that’s not what I meant. This system has been introduced to stop people having too much in credit. How does it stop it? If I put £1000 into my account does it send it back to me saying I’ve got too much credit? No, it doesnt. So this system hasn’t stopped people having too much credit its at best just disincentivised them from doing so but certainly doesn’t stop people which was supposed to be the aim. Why can’t adults be allowed to look after their own money and get 5% back??? A year ago I had to argue for ages to not put my DD up on the phone as I had about £1500 in credit but OVO wanted me to increase my DD despite this. As an adult I felt I should control my own finances and not OVO, I finally won but it was hard work. The point there is don’t trust OVO to look after your finances when you know you know better but here with the removal of the interest we are forced to. I am out of contract now thankfully so I can get away from this situation. Februarys task is to move supplieras there’s no incentive now to keep me with OVO.

It is a fair point.

The revised system will automatically adjust your direct debit to get your balance down to zero at the end of every winter following ofgem changes.

This change wasn't initially applied to anyone who was on the Interest Reward program.

I do agree that it is always good to shop around for the best rates and the removal of the interest rewards is an incentive to start looking.

The wholesale price of gas has fallen dramatically which also impacts electricity so we should hopefully see some good deals leading up to the next price cap review from all suppliers. Obviously nothing is guaranteed. 

Have you identified any good deals yet?

.

 

Jeffus
Rank
Userlevel 7
Badge +2

There are quite few of us who have not had access to our on-line accounts for nearly a year now.

If we need to interact with Ovo we have to join the queue waiting for a chat, then go through the whole palaver of verifying ourselves etc. etc. so every interaction takes around 30 minutes.

This is the only way we can find out what our balance is or change Direct Debits, or ask for refunds etc.

The worst part is that Ovo have not sent us even one email to keep us informed about what is happening.

I see from this forum that others have had an email saying that the 5% reward is being stopped, but I haven’t even had this.

That’s awful. That’s not fair. OVO should not treat people like this it should be one way for everyone or not at all. I hope they have dipped into their profits and compensated you heavily for this. OVO man up and treat everyone equally - there are laws about this these days its 2024 not 1824. 

I agree

I think at the very least an ex gratia payment would be appropriate for these users. I think that is fair and also I suspect the Energy Ombudsman would award compensation if someone took it that far.

I have worked on many global migration in my career and honestly have never seen or heard of anything like this.

I am sure there are reasons for the delay but that doesn't negate the impact of customers in any way.

H
Rank
Userlevel 2

Emmanuelle_Ovo, thanks for this information.

If I actually had access to my online account then I would be able to do all of the things you talk about.

BUT I CAN’T

S
Rank

Sigh… I really didn’t want to have to write this…

The legacy billing system Apollo had some nasty flaws in it that were basically tearing apart the online services. It was no longer viable to continue keeping them active because doing so would have led to more damage. OVO didn’t want to have to do it, but they had no choice.

That is why only about 1,000 or so customers can’t use online services right now.

Everything beyond that is, I’m afraid, confidential. But it is for the best, trust me.

You instruct us to trust you but it was your post earlier that was removed because of the pack of incorrect information you were spreading around. I’ll not be following your command on this.

S
Rank

Emanualle_OVO: “Due to the rule changes on where Direct Debit payments must be as accurate as possible and that we must not let credit build up excessively. The aim is for our customers’ payments to accurately cover their energy usage over 12 months – leaving them with a balance of 0. “

Who decided to change the rules so that customers are not allowed to look after thir own finances? I dont know what’s going to happen tomoorow or in six months time but to know I have more than enough in my energy account to cover me gives me peace of mind. To KNOW that whatever happens I am going to be at ZERO after 12 months is awful, I’ll have ZERO in my account to cover me meaning if I’m out of work by then I’ll not only have to have me heating off but there’s not enough money to cover the standing charges. Why has this rule been deliberately created to potentially put customers at this risk?

Jeffus
Rank
Userlevel 7
Badge +2

Emanualle_OVO: “Due to the rule changes on where Direct Debit payments must be as accurate as possible and that we must not let credit build up excessively. The aim is for our customers’ payments to accurately cover their energy usage over 12 months – leaving them with a balance of 0. “

Who decided to change the rules so that customers are not allowed to look after thir own finances? I dont know what’s going to happen tomoorow or in six months time but to know I have more than enough in my energy account to cover me gives me peace of mind. To KNOW that whatever happens I am going to be at ZERO after 12 months is awful, I’ll have ZERO in my account to cover me meaning if I’m out of work by then I’ll not only have to have me heating off but there’s not enough money to cover the standing charges. Why has this rule been deliberately created to potentially put customers at this risk?

In case it helps @SJM 

Ofgem decided to change the rules. This is what kicked it off.

https://www.ofgem.gov.uk/sites/default/files/2022-08/Decision%20letter%20DD%20rules.pdf

They have an email address you can contact them about their policies.

consumeraffairs@ofgem.gov.uk

The change followed a public consultation.

There are regular consultation conducted by ofgem. Many are not that relevant to end consumers but some are worth contributing to if that interests you 

https://www.ofgem.gov.uk/energy-policy-and-regulation/engagement/consultations

There are also regular calls for input. A recent one on standing charges was particularly popular and was signposted from this forum.

https://www.ofgem.gov.uk/energy-policy-and-regulation/engagement/calls-input

I would encourage you to take part in the consultations and calls for input if it is a subject you are passionate about.

S
Rank

@Jeffus it shouldn’t have to interest me and it doesn’t. It should however interest OVO Energy as they are the ones who will stay in business only if they have enough customers. If we all leave, or enough of us do, then they’ll go bust. It’s down to a business to operate and conduct its business in a manner that keeps it viable. Customers shouldn’t be encouraged to approach Ofgem on an individual basis its up to the energy suppliers to appoach them once of behalf of however many million customers it has. I can find another energy supplier - they cant go and choose another customer.

Jeffus
Rank
Userlevel 7
Badge +2

@Jeffus it shouldn’t have to interest me and it doesn’t. It should however interest OVO Energy as they are the ones who will stay in business only if they have enough customers. If we all leave, or enough of us do, then they’ll go bust. It’s down to a business to operate and conduct its business in a manner that keeps it viable. Customers shouldn’t be encouraged to approach Ofgem on an individual basis its up to the energy suppliers to appoach them once of behalf of however many million customers it has. I can find another energy supplier - they cant go and choose another customer.

Hi @SJM 

Out of curiosity who are you switching to?

 

Jeffus
Rank
Userlevel 7
Badge +2

Check your balance - log into account

Request a refund - log into account

Use the Direct Debit calculator - log into account

Modify the Direct debit amount - log into account

See if the new fixed rates might be beneficial - log into account

need I say more.

 

HI @Hadders52 are you going to switch supplier once you get access to your account?

S
Rank

@Jeffus it shouldn’t have to interest me and it doesn’t. It should however interest OVO Energy as they are the ones who will stay in business only if they have enough customers. If we all leave, or enough of us do, then they’ll go bust. It’s down to a business to operate and conduct its business in a manner that keeps it viable. Customers shouldn’t be encouraged to approach Ofgem on an individual basis its up to the energy suppliers to appoach them once of behalf of however many million customers it has. I can find another energy supplier - they cant go and choose another customer.

Hi @SJM 

Out of curiosity who are you switching to?

 

As mentioned already : - “Februarys task is to move supplier as there’s no incentive now to keep me with OVO” - it is still very much January.

Also, I have already had the maiximum back they / the rules / OfGem / OVO are allowed / prepared to give (how does that work if you stil have a massive balace left and they mare aiming for ZERO??) so i might have to wait a further 2 to 3 months to get rid of the positive balance I’ll still have left.

Jeffus
Rank
Userlevel 7
Badge +2

@Jeffus it shouldn’t have to interest me and it doesn’t. It should however interest OVO Energy as they are the ones who will stay in business only if they have enough customers. If we all leave, or enough of us do, then they’ll go bust. It’s down to a business to operate and conduct its business in a manner that keeps it viable. Customers shouldn’t be encouraged to approach Ofgem on an individual basis its up to the energy suppliers to appoach them once of behalf of however many million customers it has. I can find another energy supplier - they cant go and choose another customer.

Hi @SJM 

Out of curiosity who are you switching to?

 

As mentioned already : - “Februarys task is to move supplier as there’s no incentive now to keep me with OVO” - it is still very much January.

Also, I have already had the maiximum back they / the rules / OfGem / OVO are allowed / prepared to give (how does that work if you stil have a massive balace left and they mare aiming for ZERO??) so i might have to wait a further 2 to 3 months to get rid of the positive balance I’ll still have left.

If you are on a variable rate, you can request all your credit back by phoning collections. Although you can't do that after the switch has started.

The number is 0800 069 9831. They’re open Monday to Friday 9am-5pm.

Best to leave some as there is a risk your transfer will be blocked if there isn't enough credit to cover the final bill.

Your final bill has to be issued within 6 weeks of the switch and any credit returned within another 10 working days.

 

S
Rank

@Jeffus it shouldn’t have to interest me and it doesn’t. It should however interest OVO Energy as they are the ones who will stay in business only if they have enough customers. If we all leave, or enough of us do, then they’ll go bust. It’s down to a business to operate and conduct its business in a manner that keeps it viable. Customers shouldn’t be encouraged to approach Ofgem on an individual basis its up to the energy suppliers to appoach them once of behalf of however many million customers it has. I can find another energy supplier - they cant go and choose another customer.

Hi @SJM 

Out of curiosity who are you switching to?

 

As mentioned already : - “Februarys task is to move supplier as there’s no incentive now to keep me with OVO” - it is still very much January.

Also, I have already had the maiximum back they / the rules / OfGem / OVO are allowed / prepared to give (how does that work if you stil have a massive balace left and they mare aiming for ZERO??) so i might have to wait a further 2 to 3 months to get rid of the positive balance I’ll still have left.

If you are on a variable rate, you can request all your credit back by phoning collections. Although you can't do that after the switch has started.

The number is 0800 069 9831. They’re open Monday to Friday 9am-5pm.

Best to leave some as there is a risk your transfer will be blocked if there isn't enough credit to cover the final bill.

Your final bill has to be issued within 6 weeks of the switch and any credit returned within another 10 working days.

 

I’ve had the maximum back already and I’m not permitted to request more despite its my money and my amount in credit. So if I stayed with OVO they have failed to get my account to zero and failed to answer how the idea was suposed to work to get to zero if my account was already in more credit than they were allowed to refund back to me.

Jeffus
Rank
Userlevel 7
Badge +2

@Jeffus it shouldn’t have to interest me and it doesn’t. It should however interest OVO Energy as they are the ones who will stay in business only if they have enough customers. If we all leave, or enough of us do, then they’ll go bust. It’s down to a business to operate and conduct its business in a manner that keeps it viable. Customers shouldn’t be encouraged to approach Ofgem on an individual basis its up to the energy suppliers to appoach them once of behalf of however many million customers it has. I can find another energy supplier - they cant go and choose another customer.

Hi @SJM 

Out of curiosity who are you switching to?

 

As mentioned already : - “Februarys task is to move supplier as there’s no incentive now to keep me with OVO” - it is still very much January.

Also, I have already had the maiximum back they / the rules / OfGem / OVO are allowed / prepared to give (how does that work if you stil have a massive balace left and they mare aiming for ZERO??) so i might have to wait a further 2 to 3 months to get rid of the positive balance I’ll still have left.

If you are on a variable rate, you can request all your credit back by phoning collections. Although you can't do that after the switch has started.

The number is 0800 069 9831. They’re open Monday to Friday 9am-5pm.

Best to leave some as there is a risk your transfer will be blocked if there isn't enough credit to cover the final bill.

Your final bill has to be issued within 6 weeks of the switch and any credit returned within another 10 working days.

 

I’ve had the maximum back already and I’m not permitted to request more despite its my money and my amount in credit. So if I stayed with OVO they have failed to get my account to zero and failed to answer how the idea was suposed to work to get to zero if my account was already in more credit than they were allowed to refund back to me.

Did you phone up and ask collections? There is a limit on the website when trying to claim but you can phone up

This is what ofgem say, you can request a refund which is in line with what ovo say on their website

If Collections refuse, come back to the forum and I will tag one of the ovo moderators to see if they can offer some advice on next steps

S
Rank

@Jeffus yes I phoned, I didn’t apply online. They told me on the phone that the amount I was asking for was the maximum which makes a mockery of the whole thing. The maximum should be whatever I’m in credit by otherwise they can’t get accounts to zero if there’s stil a balance left in the account. I have now altered our DD to £5 a month and this should see the balance used up after 2 to 3 months.

Jeffus
Rank
Userlevel 7
Badge +2

@Jeffus yes I phoned, I didn’t apply online. They told me on the phone that the amount I was asking for was the maximum which makes a mockery of the whole thing. The maximum should be whatever I’m in credit by otherwise they can’t get accounts to zero if there’s stil a balance left in the account. I have now altered our DD to £5 a month and this should see the balance used up after 2 to 3 months.

OK I have asked the OVO moderators 

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