Energy firm OVO has agreed to pay £3.4m in goodwill to customers as part of a £10.4m settlement with the energy regulator, Ofgem, following an investigation into its policies for supporting vulnerable customers. The settlement comes after Ofgem launched an investigation in 2020 to ensure that energy companies were providing adequate support to customers who may be struggling to pay their bills.
OVO to Pay £3.4m in Goodwill to Customers Amid Regulatory Investigation
UKPulse Money DeskEnergy firm OVO has agreed to hand out £3.4m in goodwill payments to customers as part of a £10.4m settlement with the energy regulator, Ofgem, following an investigation into its support for vulnerable customers.
- OVO will pay £3.4m in goodwill to customers as part of a £10.4m settlement with Ofgem
- The settlement comes after an investigation into OVO's policies for supporting vulnerable customers
- The energy firm has agreed to improve its customer support and compliance with regulatory requirements
Why this matters: This development is significant for UK energy customers, as it highlights the importance of energy companies providing adequate support to vulnerable customers. It also underscores the role of regulatory bodies in holding energy companies accountable for their practices.
What this means for you: What this means for you: If you are a vulnerable customer of OVO, you may be eligible for a goodwill payment as part of this settlement. It is essential to check with OVO to see if you are eligible and to understand the process for claiming your payment.