Ovo Energy is a leading independent UK energy retailer, with a vision of providing better customer service than the large energy companies.

Review of Trading Operations

ESP Consulting conducted a review of the trading operations of Ovo Energy, a rapidly growing UK energy supplier, in order to benchmark their procedures and processes against industry best practice and to ensure their infrastructure in the trading area is sufficiently robust to accommodate their plans for further expansion of their customer base. Key areas of attention included:

  • Governance, risk policy, and the risk control framework, including the organisational structure, segregation of duties, and compliance monitoring;
  • The overall trading infrastructure (i.e. systems, models, data and interfaces) which underpin Ovo Energy’s day-to-day operations, with particular attention to the core trade capture, position and risk reporting systems;
  • Management information and level of transparency with respect to market and liquidity risk positions; and
  • Book structure, transfer pricing, benchmarks, and performance measurement.

Following the benchmarking review, we offered specific recommendations to Ovo Energy for development steps in the above focus areas.

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