Economy Energy customers: Your questions on new supplier Ovo Energy

Publication date
11th January 2019
Information types
Policy areas

We have appointed Ovo Energy to take on the customers of Economy Energy, after they ceased trading. This appointment will take effect on Saturday 12 January 2019. This follows a competitive process we’ve run to get the best deal possible for Economy Energy customers. 

This guide will answer some of your questions on what happens now.

Your supply

When will I be switched from Economy Energy to Ovo Energy?

All Economy Energy customers will be transferred to a new contract with Ovo Energy on Saturday 12 January 2019. Ovo Energy will then contact all customers to explain what happens next.

If you haven't heard from them within a few days, please get in contact using the details below.

Your contract

Will I be on a different contract with Ovo Energy? Will I pay more?

They have put you on a deemed tariff rate and will now contact all ex Economy Energy customers to let them know personalised tariff information. 

You can shop around or ask them to put you on a different tariff. You won’t be charged any exit fees.

For clear advice on how to shop, see our guide: How to switch and shop for a better deal.

Switching supplier

I don’t want a contract with Ovo Energy. Can I switch?

Our advice is not to switch immediately, but wait until Ovo Energy has been in touch with you. They will contact you with personalised information about your tariff.

Your account will be fully set up with them in the coming weeks. Ovo Energy will email you at this point to confirm once this has happened, and from then on you'll have full access to your Ovo Energy account. If you try to switch away from Ovo Energy before they complete the transfer of your account, the switch may take longer to complete.

If customers wish to change their tariff or switch supplier, they should ask to be switched to another Ovo Energy tariff, or shop around. You won’t be charged any exit fees. Waiting for them to contact you will be the smoothest way to have any credit balances you had with Economy Energy honoured by Ovo Energy.

For clear advice on how to shop, see our guide: How to switch and shop for a better deal.

Accounts in debt or credit

I’m in credit with Economy Energy. Will I get my money back?

Ovo Energy will honour credit balances for both current and past customers of Economy Energy who are owed money. 

Ovo Energy will review details of any debt or credit on your account. Wait for them to contact you with relevant instructions. They will also be able to answer any questions you may have on debt or credit on your account. The review process may take a few weeks as Ovo Energy needs to receive and review records from Economy Energy. When calculating your credit balance, they will deduct any unbilled charges for your supply by Economy Energy. These are calculated by Economy Energy’s administrators.

I’ve left Economy Energy but I owe them money. Will I need to pay it back to Ovo Energy?

If you have switched and owed Economy Energy money, including if you were paying this money back, its administrators will be in contact with you to discuss repayment arrangements.

I’ve left Economy Energy, but have a credit balance.  Will Ovo Energy pay me this money?

Ovo Energy will honour credit balances for both current and past customers of Economy Energy who are owed money.

Ovo Energy will review details of any debt or credit on your account. Wait for them to contact you with relevant instructions. They will also be able to answer any questions you may have on credit on your account. The review process may take a few weeks as Ovo Energy needs to get and review your records from Economy Energy. When calculating your credit balance, Ovo Energy will deduct any unbilled charges for your supply by Economy Energy. These are calculated by Economy Energy’s administrators.

I am owed compensation by Economy Energy, will Ovo Energy pay me this?

No. Ovo Energy will not pay this compensation. You should contact Economy Energy’s administrators in this situation. We will publish their contact details in ‘Further help and advice’ below when they are appointed.

If you think your complaint is still ongoing, then once Ovo Energy contact you, please discuss with them how the issue can be resolved. 

Prepayment meter customers

What will happen to my prepayment meter?

Customers with prepayment tariffs can continue to top up their meters as they had done previously with Economy Energy. They will be contacted by Ovo Energy’s prepayment brand Boost.

Payments through direct debit

Should I cancel my direct debit?

No. We advise that you don’t cancel your direct debit before Ovo Energy contacts you. They will be in contact with you soon to advise you on this.

I’ve already cancelled my direct debit. Should I do anything?

You don't need to worry if you’ve already cancelled your direct debit. Ovo Energy will be in touch with you. They will help you set up a new account and will be able to tell you what will happen with any credit balance you may have with Economy Energy.

Warm Home Discount

Core Group

If you received a letter from the Government stating you will receive the WHD rebate automatically then you will receive the discount by 31 March 2019. You do not need to take any further action.

If you think you are in the Core Group but are not sure on your eligibility status or you received a letter from the Government asking you to contact them, you should call the Warm Home Discount helpline on 0800 731 0214 by 28 February 2019.

Broader Group

If you received a notification from Economy Energy letting you know that you are eligible for a Broader Group rebate under the Warm Home Discount you should not contact the above helpline as they will not be able to assist with a Broader Group rebate.

Warm Home Discount customers who have already been approved by Economy Energy will continue to receive their payment from Ovo Energy. Ovo Energy will be able to advise on how you will receive your rebate.

Complaints and contacts

Will Ovo Energy take on my unresolved complaint to Economy Energy?

Ovo are not required to take on any unresolved complaints relating to Economy Energy.

However, if you believe your complaint is still ongoing, once Ovo contact you, please discuss with them how the issue can be resolved.

If your complaint was open with the Ombusman, they will be in contact with you in due course to discuss next steps.

Enquiries

Ovo Energy will contact Economy Energy customers with more information about their contract, tariff and any credit owed to you. If your question isn't answered here, you should contact the Ovo Energy customer contact team.

Ovo Energy customer helpline

Economy Energy customers on a prepayment meter should wait for Boost to contact them and can find out more information by visiting: www.boostpower.co.uk/economy-energy, or contact them on switch@boostpower.co.uk or 0330 102 7428.

Economy Energy customers who pay monthly should wait for OVO Energy to contact them and can find out more information by visiting: www.ovoenergy.com/economy-energy, or contact them on switch@ovoenergy.com or 0330 102 7407.

Economy Energy administrators

Grant Thornton has been appointed as the administrator for Economy Energy. They can be contacted at: Economy.Energy@uk.gt.com.

Further help and advice

If your question isn’t answered here and you have concerns about your energy supply, problems or complaints, you should contact the Citizens Advice consumer helpline in the first instance for guidance and support.

Ofgem's role

You can read more about our powers to protect consumers when suppliers go out of business in our guidance: Supplier of Last Resort process.