I am running up a large credit balance because my energy usage has decreased dramatically and will not be increasing again so OVO`s debt to me is going to be considerable . Out of curiosity , if OVO or any other energy supplier should become insolvent , would customers in credit lose their money ?
Best answer by Tim_OVO
If OVO or any other energy supplier should become insolvent , would customers in credit lose their money?
Interesting question, @pip707 - I think we might struggle to find an OVO Forum user who can answer this for sure.
I can say that OVO do not have the same guarantees to credit balances as a bank does. We offer an interest on credit balances up to £1000 but actively refund credit balances that are deemed to be excessive.
OVO aren't going anywhere any time soon, but if you've got a nice credit balance that you don't need for this winter's high usage, sort out a refund yourself via My OVO here: http://ovoener.gy/myovo.