OVO Energy has announced a £50M support fund to help state pensioners losing their £300 Winter Fuel Payment this winter.
The gas and electricity supplier becomes the latest to offer a new support scheme to the millions of state pensioners who will no longer be automatically paid the £300 Winter Fuel Payment this year.
OVO is giving customers ‘direct financial support’ if they are struggling to pay energy bills, including ‘free or subsidised upgrades’, new boilers and even heat pumps as well as reductions in direct debit payments.
Chief executive David Buttress said it is “on us” to help customers through the winter.
The package of help opens on October 1 but Ovo’s website is live from today for customers to check if they’re eligible.
However, Mr Buttress also called for a longer-term solution in the form of a social tariff, something campaign groups have proposed for several years.
The measure would likely take the form of a targeted discount energy deal for poorer customers, and could be below the price of the cheapest available standard energy tariff.
Mr Buttress added: “We know it’s on us to ensure our customers are supported through the winter months.
“That’s why our winter support scheme is bigger than ever this year with £50 million of funds.
“But this isn’t a long term solution. We need to make the energy system work better for everyone.
“That starts with targeted support in the form of a social tariff so we’re not plugging the gaps – no one can be, or no one needs to be left behind.”
The announcement comes after the Government’s decision to restrict state winter fuel payments to those receiving pension credit.
It means around 10 million people will lose out over the coming months, with the benefit taken away from all but the poorest pensioners in the country. About 11.5 million people used to receive it.
