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Ofgem Secures £10 Million Ovo Settlement Over Vulnerable Prepayment Customers
The settlement includes £7 million for redress and £3.4 million in credit and debt relief for vulnerable customers, Ofgem said.
- Ovo Energy agreed to pay more than £10 million following an Ofgem investigation into its handling of prepayment meter customers, including £7 million to a voluntary redress fund and £3.4 million in credit and debt relief.
- Ofgem's investigation revealed that Ovo consistently failed to monitor and accurately record customer interactions, with key checks and safeguards not always carried out, breaching rules designed to protect vulnerable consumers.
- Of those affected, 7,726 were on the priority services register, including 4,066 classed as medically vulnerable; Ovo will additionally pay £1.1 million to Scottish Highlands and Islands customers for failing to provide adequate engineer support.
- Ovo accepted that "some of our historic processes fell short of expected standards" and has since strengthened policies to identify and support vulnerable households, the supplier said.
- This payout follows Ofgem's ongoing crackdown on the prepayment meter market; British Gas agreed last month to a £20 million payout for unauthorized meter installations.
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Total News Sources33
Leaning Left5Leaning Right3Center17Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
L 20%
C 68%
12%
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