Great news for Ovo Energy customers! 🎉 The company will be returning over £10 million to customers after Ofgem discovered issues with their monitoring of prepayment meters, which left some vulnerable households at risk. This settlement includes a £7 million contribution to Ofgem’s voluntary redress fund and £3.4 million in credit and debt relief for customers in need.
This payout follows Ovo’s recent acquisition by E.On, making it the UK’s largest electricity supplier. Ofgem’s investigation highlighted Ovo’s inadequate support for vulnerable customers and shortcomings in their processes. Ovo has committed to improving their policies to better support those who rely on prepayment meters, which, while beneficial for many, aren’t always suitable for everyone.
Additionally, Ovo is compensating customers in the Scottish Highlands and Islands with £1.1 million for failing to provide adequate engineer support since early 2022. This comes after a past Ofgem order for a £2.77 million compensation for delays in delivering warm home support to nearly 12,000 vulnerable customers.
This reflects an ongoing push by Ofgem to ensure energy providers properly monitor and support their customers, especially those on prepayment meters. Ovo acknowledges its past shortcomings and is taking steps to ensure better support in the future.
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