The independent energy supplier said the “vast majority” of these customers are dual fuel, meaning the company has passed the 250,000 connection exemption limit and will become eligible for Eco at the end of this year.
Speaking to Utility Week, head of strategy Andrew Mack said: “We’ve seen Eco coming for several years.
“It’s one of the least disruptive changes that our business will go through, so I’m not in the least bit worried about the impact it will have.”
He added: “In the scheme of what we’ve achieved in four and a half years , Eco on its own is almost irrelevant.”
Mack stated Ovo would not outsource its Eco responsibilities to “one or two nameless providers” but that they are looking at “much more innovative” ways of meeting the obligation.
He also added Eco was “right for reform” and said Ovo would like an energy efficiency obligation to be placed on all suppliers, while a “competition policy” should be created to help the smaller suppliers.
Mack said that Eco was “phenomenally complicated” and that while the current system works for the larger energy suppliers, the smaller companies find it “unwieldy” and it can hamper their growth.
The Department of Energy and Climate Change (Decc) said they consulted “extensively” to set an “appropriate” threshold when Eco was being designed.
A Decc spokesperson added: “We work closely with the industry, regularly looking at the energy efficiency schemes we run, to ensure they work for suppliers and consumers.”