In everyday life, having an energy provider who can meet our needs is essential. However, there may be times when you feel the need to switch energy providers. Perhaps you’re moving out of your current home or dissatisfied with your current services. If you want to terminate, this article will help you with how to cancel OVO Energy, along with the OVO cancellation fee, and other requirements.
Can You Cancel OVO Energy?
Sometimes due to certain unforeseen circumstances like shifting households, you might want to end the account with OVO Energy. So naturally, one question would pop into your mind and that is – can you cancel OVO energy? Well, in that case, you can cancel OVO Energy. They provide a very simple and seamless account closure process. If you want to know how to cancel OVO Energy, then keep reading.
How to Cancel OVO Energy
OVO Energy, founded in 2009, is a UK-based energy supplier that supplies gas and electricity to residential and commercial clients. It has millions of customers. Despite being one of the largest energy providers in the United Kingdom, some customers desire to switch to another provider and terminate their contract. And, since you now know the answer to if you can cancel OVO energy, you may feel relieved now.
But if you decided to switch energy providers due to some reason, you may be wondering how to cancel OVO Energy contract. Simply follow these steps:
1. To cancel your service, first contact OVO Energy’s customer care team. You can reach them via phone or email their contact information is available on their website. When you call them, be sure to inform them of your intention to cancel and provide them with the appropriate information, such as your account number and the date you want your service to be stopped.
2. If you plan to switch to a different supplier, sign up with another energy provider and make sure you are not in debt with OVO Energy. The new energy company will automatically send the data of meter readings to OVO, through which they will calculate any pending amount. If the remaining balance exceeds 25 pounds, the transfer to the new company will be halted until the remaining balance is cleared.
3. If the balance is cleared then confirm with OVO Energy whether an exit charge is required. Customers will be charged account closure fees if the minimum duration of the contract is not fulfilled as the exit price. Therefore, it is essential to review the contract details before leaving the company.
4. It’s also worth noting that if you’re still under a specific contract with OVO Energy, you may be subject to early termination fees. This fee will be listed in your contract agreement, so make sure to read it before canceling.
5. You must also pay any remaining balance on your account before canceling to avoid any further charges. Furthermore, if they had provided you with any equipment, such as smart meters or thermostats, you must return it.
6. After you leave OVO Energy’s contract for a new energy company, they will provide you with a 14-day cooling-off period. During these 14 days, you can change your mind and return to OVO without paying exit fees to the new supplier.
7. However, if you choose to begin with the new energy supplier, you will be liable to pay for all costs associated with the energy and other services provided to you during this period.
8. After 14 days cooling-off period, the new supplier will call OVO to notify them that they will be taking over the energy supply and will request your meter reading a few days before the actual switch.
9. After authenticating the readings, OVO will cancel your account, but any remaining balance must be paid.
10. After you terminate your account, you will receive a last bill from OVO Energy, which you should carefully verify to ensure that all charges are correct. If you discover any discrepancy, please contact their customer service employees for the issue.
So, how to cancel an OVO Energy subscription- well, it is by following these steps carefully to avoid any further charges or complications. In short, contact OVO Energy’s customer service team, settle any remaining balances, return any OVO Energy-provided equipment, and double-check your final bill for correction. The next pointer will answer if there is a cancellation fee for OVO Energy so that you are aware of the policies beforehand.
Note: If you do not cancel your switch in time, you will remain with OVO and continue your current product and rate.
Also Read: How to Cancel Direct Energy
Is there a Cancellation Fee for OVO Energy?
Now that you are aware of how to cancel OVO Energy, you might wonder if you need to pay cancellation charges. The cancellation fee policy of OVO Energy may differ depending on the specific plan and client terms and conditions.
However, with its standard energy plans, they do not charge a cancellation fee in general. But if you have a fixed-term contract with OVO Energy, you may be charged a cancellation fee. It is applicable if you decide to cancel before the end of the agreed-upon time. The cost amount can vary depending on the specific plan and the duration of the contract. To know about the OVO cancellation fee amount, read the next pointer. It is interesting to note that they also don’t charge any exit fees on any plan if you are relocating your home.
Also Read: Is Constellation Energy Legit?
What is the OVO Cancellation Fee?
You learned if you can cancel OVO Energy and if there is a cancellation fee for Ovo Energy. The next question that follows these two is – what is OVO cancellation fee and under what conditions you are required to pay?
If you leave during a fixed OVO plan such as Better Energy or 2-Year Fixed Energy, you may be charged an exit fee for each fuel. Leaving before the contract end date, OVO Energy will charge you an early exit fee of £30 for gas and £30 for electricity.
Moreover, if you cancel your switch within the 14-day cooling-off period, you will not be charged any exit fees, even if you are on an energy plan with exit penalties but for energy consumption and services you are supposed to pay.
What if You Leave and Owe OVO Energy Money?
If you are moving to a new home, give OVO Energy your closing meter readings, and they will send you a final statement indicating whether you have a negative or positive balance.
If you try to switch while you are still in debt, they may object to the transfer. You can’t switch away while you are in debt unless it’s less than £25. Once the debt is cleared, you will be able to switch. By now, you already know how to cancel OVO Energy and switch to a new one.
Nevertheless, in case of debt, you can also agree with your new supplier to transfer the debt to them for collection. In that situation, OVO will supply them with full details of the amount you owe as well as any additional information needed to carry out the debt transfer.
If you pay as you go for your energy, you can transfer a debt of up to £500 to a new supplier with the help of the Debt Assignment Protocol. If you want to do so, simply contact your new supplier.
What if You Still Have Money in Your OVO Energy Account?
If you have any money or credit remaining on your account after OVO mailed you a final bill, you do not need to do anything. They are going to refund you the amount owed.
All refunds will be processed under their Refunds Policy. So, you need to remember a few things that are listed below:
1. If your positive balance is at least £25 greater than one month’s Direct Debit, you can request a refund. For example, if your monthly Direct Debit is £50 but you have a positive balance of £80 due to a £30 excess, OVO may provide a £30 refund. However, if your positive balance is £60, they cannot issue you a refund because you are only £10 over your Direct Debit amount.
2. If you owe OVO money, they can use any money on your account to pay off any sums you owe OVO, even if they are under different contracts. For example, if you have separate OVO gas and electricity accounts and owe money to your gas account, OVO will use the amount remaining in your electricity account to pay it off.
3. OVO will also not refund your money if they are unable to contact you or if more than 12 months have passed since OVO informed you of the final amount owed to you. Another case can be you haven’t specified a forwarding address, or it has been at least 12 months after the contract ended.
Note: If you believe your refund was incorrect, you should contact OVO while the terms and conditions could vary depending on the plan.
To sum up, the answer to – is there a cancellation fee for OVO Energy depends on the terms and conditions of your agreement. Although, by following the above process of how to cancel OVO Energy provided in this article, you can ensure a smooth transfer to your new supplier. Remember to go over your contract information, get in touch with OVO Energy customer support and offer your final meter reading.