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Sunelectric
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October 17, 2022
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Cancelling Direct Debit - how much extra for standard variable payment on demand?

  • October 17, 2022
  • 32 replies
  • 1509 views

I’m currently on a standard variable (like most people) for gas and electricity. How much extra would I pay if I was to cancel my Direct Debit and pay monthly via BACS on receipt of bill?

Best answer by Blastoise186

Updated on 23/01/25 by Abby_OVO

 

Be aware, if you’re on a fixed rate plan, that cancelling your Direct Debit will cancel this plan and you’ll be moved onto the Simpler Energy On Demand plan automatically.

 

It’s around £200 a year extra to pay that way. Tbh if you’re going to do it, paying by debit/credit card, Google Pay or Apple Pay will be way faster than BACS, shows up immediately and reduces the admin load on OVO’s teams.

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Blastoise186
Super User
Blastoise186Super User
Super User
May 17, 2023

You can do that by cancelling the DD with the bank. But please be careful. By doing so, you lose any fix-rate deal and would be required to pay every bill in full every month without fail. While you could of course make Top-Up Payments between bills and the credit from those would be put towards them, you’d have to make sure they’re enough to clear the whole thing each month.

I strongly recommend that you talk with the Collections Team first as the options they can recommend are probably much more likely to help solve your problem than cancelling a DD would.

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    Jeffus
    Rank 20
    Jeffus
    Rank 20
    May 17, 2023

    Hi @Joswan16

    As @Blastoise186 mentioned, it is worth chatting to the collections team

    0800 0699 831

    This is a different phone number to the normal OVO phone number.

    They have considerably more flexibility than the normal support number.

    Try asking them to freeze your direct debit for 3 months at a lower level. They normally do this. 

    In 3 months time you can then do it again. Just be careful not to build up too much, if any, debt and try and keep some credit to get through winter each year. 

    You can cancel your Direct Debit, but your standing charges and unit rates will increase and you will end up paying more overall, I don't think that is a great option in your circumstances. 

    https://plans.ovoenergy.com/

     

     

      Terms & ConditionsAccessibility statement

      OVO Energy Ltd, Floor 5, Crescent, Temple Back, Redcliffe, BS1 6EZ, (Company no. 06890795) registered in England and Wales.

      OVO (S) Gas Limited is registered in England and Wales (Company No. 02716495) at Floor 5, Crescent, Temple Back, Redcliffe, BS1 6EZ.

      OVO (S) Gas Limited is part of OVO Group Ltd