OVO Energy to pay 14 million dollars in Ofgem settlement
OVO Energy will pay 14 million dollars after a probe found failures in its prepayment meter processes. The settlement includes redress payments and debt relief.
Insights:
OVO Energy will pay £10.4 million in settlements to Ofgem after an investigation found the supplier failed to protect vulnerable prepayment customers between 2018 and 2024. This settlement, which includes a £7 million redress fund payment and £3.4 million in customer credits, follows a separate £1.1 million payment for service failures in rural Scotland. The regulatory enforcement arrives as E.ON prepares to acquire OVO Energy, a deal that would create one of the largest energy suppliers in the United Kingdom.
