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Annual statement - personal projection is high?


Can anyone help please before I switch suppliers.
Why is my personal projection (as given on my annual OVO satement) for gas about 30% higher and Electricity about 25% higher.
If these figures are correct I would be paying £500/£600 more per year than other suppliers.
Thanks
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Best answer by Tim_OVO 11 May 2017, 12:31

Can anyone help please before I switch suppliers.
Why is my personal projection (as given on my annual OVO satement) for gas about 30% higher and Electricity about 25% higher.
If these figures are correct I would be paying £500/£600 more per year than other suppliers.
Thanks


This will be related to the prices available to you and your annual usage averages, Cliff. Unless other quotes you’ve had use the same data, it’s best to compare the actual unit rates and standing charges.

That said, I’ve tweaked the title and added some tags, as I want to see if other users have had similar increases. @Emma_G what do you think?

Tim
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Can anyone help please before I switch suppliers.
Why is my personal projection (as given on my annual OVO satement) for gas about 30% higher and Electricity about 25% higher.
If these figures are correct I would be paying £500/£600 more per year than other suppliers.
Thanks


This will be related to the prices available to you and your annual usage averages, Cliff. Unless other quotes you’ve had use the same data, it’s best to compare the actual unit rates and standing charges.

That said, I’ve tweaked the title and added some tags, as I want to see if other users have had similar increases. @Emma_G what do you think?

Tim
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Morning both

When I recently switched tariff, my direct debit increased, which I was told was because the cost of energy has increased.

I am afraid I cannot be of much help, but at least i can keep an eye on things through the OVO app
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What do you think, @cliffc?
My advice would be switch to a different supplier. The billing system is currently totally failing.
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My advice would be switch to a different supplier. The billing system is currently totally failing.

Sorry to hear you feel this way @buzzard please see my response to your other posts as they can help you move this forward and get it resolved!
Just making a comment. I received an email today recommending that I up my direct debit to cover my bills. I currently pay £128 per month. My bill this year totalled £1912, so there is a difference but I have paid extra, and am -£28 at the moment. The summer is always the time to make it up. Ovo say my bill next year will be £2644, and recommend that I up my direct debit to £257 per month! That would be a yearly bill of £3084!! Why can't I online up it a small amount? Someone has got their sums a bit awry.
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Just making a comment. I received an email today recommending that I up my direct debit to cover my bills. I currently pay £128 per month. My bill this year totalled £1912, so there is a difference but I have paid extra, and am -£28 at the moment. The summer is always the time to make it up. Ovo say my bill next year will be £2644, and recommend that I up my direct debit to £257 per month! That would be a yearly bill of £3084!! Why can't I online up it a small amount? Someone has got their sums a bit awry.

Hi @Karenc

That £1912 figure sounds like an annual statement total cost. We would've worked that out by looking at your prices and total usage. Likewise, to work out a projection of the year ahead, we use that same usage and use your latest prices. That would explain the increased costs.

Drop me a PM with your account number, name and DoB if I'm barking up the wrong tree and you want more specific advice.

Just to add, I've moved this query over to another topic on the same subject.

Hope this helps,
Tim
Totally not happy!! I pay £197 a month for dual fuel, I live on my own in a 3 Bed semi detached, only a gas cooker during the summer, using on average 16 units a month, electric is just lights and the usual tv etc, I have had my meters read regularly, but they have not been submitted, today my prediction for electric is way above my sisters in a six bedroom house with a family living there with NPower, and she pays a £100 per month, time for me to change now!!
Totally not happy!! I pay £197 a month for dual fuel, I live on my own in a 3 Bed semi detached, only a gas cooker during the summer, using on average 16 units a month, electric is just lights and the usual tv etc, I have had my meters read regularly, but they have not been submitted, today my prediction for electric is way above my sisters in a six bedroom house with a family living there with NPower, and she pays a £100 per month, time for me to change now!!

Hi @Woodey 777

I’ve moved your post over to an existing topic which best answers your query. Please take a look at the information above regarding personal projections.

You also mentioned that your meter readings haven’t been submitted - I’d like to look into that a bit further for you. Could you send me a PM with your full name, account number and DoB?

Thanks,
Emily
my energy plan runs out in November but my annual usage statement July is not sent out until 27th November, how can I do a comparison"
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Hi @100932854 - I've moved your post over here for more information about annual statements.

Let me know if you have any more questions below!
I have just received my monthly statement and some of the figures quoted are wrong. On the first page it provides an estimate of the cost of electricity and gas over the next year, and on page 2 it gives figures for estimated annual consumption of electricity and gas. All of these are wrong on the latest statement but were reasonably accurate in previous statements.

To illustrate the problem these are the figures (I have added the cost of electricity and gas together):-

Actual usage in last 12 months, Cost: £973.86 (E:3796 kW G: 9005 kW)

Statements
Nov 2018 Statement Est. for next 12m, Cost: £1502.46 (E: 5394 kW G: 6815 kW) – wrong
Oct 2018 Statement Est. for next 12m, Cost: £1033.41 (E: 3809 kW G: 8609 kW) – OK
Sept 2018 Statement Est. for next 12m, Cost: £983.78 (E: 3901kW G: 8532kW) – OK

Older statements are similar to Sept and Oct and the estimates are reasonably close to what I am actually using.

Why are the figures so wrong? It thinks I will use around 40% more electricity in the next 12 months compared to what I am using now and 25% less gas than I am using now. The estimated cost over the next 12 months is more than 50% more than the last year but I still have 12 months left to run on my existing 2 year fixed rate. This makes no sense at all, and it only seems to be a problem with the latest statement.
Hey @Phil_H - I've moved your query over to an existing topic on annual estimates. If you have any further questions, just pop them below!
I switched to Ovo around 2 or 3 years ago because I was assured they were cheaper than the rest. For the first few months bill's were cheaper, but it didn't take long for them to start to rise. I was asked only once to increase my payment of £70 but l couldn't afford to do this due to my circumstances at the time, but I have never stopped paying my direct debit.

I would also add that although everything I have is electric, I work full-time, so I am out during the day, I am away at weekends due to family issues and I also live alone.

Despite all of this the projected estimates of the amount of electricity I am forecasted to use keeps soaring, it is currently around £3600 for this year and my overall bill stands at around £5400 and my suggested monthly payment is £825 per month. As you can imagine I am worried sick about this. I don't like to be in debt but somehow I have managed to be in debt to a company that was meant to make things easier. I wasn't even in debt with my previous energy company who as one of the big six, was on the surface much more expensive than Ovo.


My question is how can it possibly make sense that I can be using so much electricity when I'm never there and how am I possibly expected to pay such a huge bill when it just keeps increasing?
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Hi @Juan50,

I've moved your post onto this topic about annual projections. Let me know if you need any further help.

Thanks
I am absolutely staggered by my projected electricity figure of £2336.66

I've never paid as much as £500 with ANY supplier in all the years I've been getting bills.
Particularly worrying when our actual usage is lower than the estimated even when we've given the meter readings when we've been asked to.
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Can anyone help please before I switch suppliers.
Why is my personal projection (as given on my annual OVO satement) for gas about 30% higher and Electricity about 25% higher.
If these figures are correct I would be paying £500/£600 more per year than other suppliers.
Thanks
This will be related to the prices available to you and your annual usage averages, Cliff. Unless other quotes you’ve had use the same data, it’s best to compare the actual unit rates and standing charges.

That said, I’ve tweaked the title and added some tags, as I want to see if other users have had similar increases. @Emma_G what do you think?

Tim


Welcome to the forum, @Jeanie67, I've popped your post here, there is some info above that may be helpful.

I think it might be worth getting in touch with our team as that is a large jump.

You can send us a message on Facebook, Twitter or email the team on hello@ovoenergy.com, or give them a call. You can reach our Customer Care team 9-5 Monday-Friday on 0330 303 5063.

Hope this helps!
My my ovo account finally was released from welcome page purgatory so I can now access my statements and give my meter readings. I checked my balance to find that over the course of the last year my monthly payments were as expected up until october 11th 2019 where there is an £843.47 outgoing payment from the balance. I then recieved an email estimating my annual costs would be over £10,000!

Some simple maths finds that £843.47 * 12 is just over £10,000 and so clearly the system thinks I should be paying that £843.47 every month.
Just to go down a line of thought, I also totalled my monthly costs (the actual costs rather than the £72 monthly payment) and it came to around £718.99, so I have no idea where this £843.47 value came from.

Further on down that email it says my usage was around 6600KWH for the year which is what I was expecting. its then decided that my future annual consumption is going to be 50700KWH!! I have no idea why this has happened and would much appreciate this being investigated.

tldr there's two issues here:
  1. There's a huge outgoing value in my balance that I should not be charged for (for reference my monthly bill is £72 and this new value is £843.47)
  2. The system seems to be under the impression that I might be paying that huge amount every month based on a projected annual usage that is 7.7 times larger than my last year's annual usage.
Both of these things seem to be way out of order, particularly as I've not heard anything about them until that email appeared.

It should also be clear that I am in no way going to pay that much money.
Following up, after more investigation it looks like that £843.47 comes from a combination of the past seemingly 12 months, plus VAT. Best I can work out, thats the actual annual charge if all of my monthly statements were added properly, which deals with issue no. 1

Still concerned about issue no. 2, ie that the system seems to be projecting me to use 7.7 times my last year's consumption over the next year and that its planning to charge me that £843.47 (or a similar amount) every month!
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Anyone got some advice here for @Elixirninja - it sounds like a similar thing to what’s already been raised here. 

 

@Jeanie67 what happened in the end when you flagged this?

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