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

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. 

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.

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.

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?

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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.

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

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.

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.

@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.