Cancelling Direct Debit - how much extra for standard variable payment on demand?

Thank you for the info. I’m assuming the additional charge is due to increased administration costs? If this is the case, the inconvenience of BACS payment would be covered.

Paying on-demand carries more costs for OVO and also more risk of non-payment.

I just cancelled mine as they keep putting the direct debit up and up despite being in credit and my usuage being way lower. Yes I understand its calculated by the 12 month estimate but I wanted to pay on receipt of bills via direct debit but apparently this is not possible (not sure why) so I've set up a BACS and I'll just top up when needed via a card. I've uploaded my new rate about £150-200 more a year ( south west).

I much rather have more control and have the money sat in my bank rather then theirs.

I was looking to do exactly the same thing - I’m £450 in credit yet online saying I can only have a max of £71 refund …. Of my own money !!! Makes me a little cross to be honest along with the fact that for some reason it’s cost 6p per day more in standing charges and unit cost more expensive when you just want to pay for what you actually use!!! It’s really not right , don’t know any other service area or products where you have to pay for what you MIGHT use in the next 12 months. 

I see in another thread @Sunshine42 that you’re planning to change to paying on receipt of your bill, and at the higher rate. But before you go can I just say that Ovo’s live billing platform uses your meter readings through the year to adjust the amount you pay over the 12 months, so as time goes by if you reduce your usage you’ll also be able to reduce your direct debit. It’s calculated on your estimated Future Annual Consumption which you can see on the website (not the app) under Plan Details.

Hey, to be honest I’m a single mum- I work full time - I have reduced my usage by loads  over the past couple of months and seriously would not be able to cut back anymore apart from permanently sitting in the dark ( although I have been using a lot of candles more recently lol) and cooking on a bonfire. 

Hi

Give Collections a call. Have a chat with them about a payment plan that might work for you

0800 0699 831

I’m ok at the moment , not struggling to pay because I’m being so careful and have reduced it - I’m just annoyed at being in so much credit and not being allowed it back -  it’s my son’s bday at the end of this month and Christmas of course so having over £400 sitting in OVOs bank instead of mine and not being able to get it back quickly and easily, in my opinion, is not acceptable 

What I meant was that the system won’t ask for the same direct debit amount if your usage drops. Sounds like it might very well be less than anticipated.

The direct debit is just a way of levelling out the payments over the year so the winter ones aren’t gigantic compared to the summer ones. At this time of year a credit will build up, then be used during January/February. Also it’s a cheaper method for the company to process the payments, hence the lower rate.