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FIT payments - How does this work if I switch to OVO?

  • 14 October 2017
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So, if I want to switch my electricity supplier to OVO will they take on my current FIT payments at the same rate as Im currently on, or will my FIT rates be reduced to that of a new solar FIT applicant (as per the FAQs) Plus, are FIT payments compatible with the new EV account? None of this is clear to me.
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Best answer by Tim_OVO 1 November 2017, 14:40

So, if I want to switch my electricity supplier to OVO will they take on my current FIT payments at the same rate as Im currently on, or will my FIT rates be reduced to that of a new solar FIT applicant (as per the FAQs) Plus, are FIT payments compatible with the new EV account? None of this is clear to me.

Hi @Vince31 and thanks for reaching out on the forum about this.

A Feed in Tariff (FIT) and a domestic supply are treated as separate contracts. OVO would be happy to supply energy and for our customer to receive FIT payments from another FIT licensee (though their rules may differ, so you should check in with Npower about this).

If you did choose to switch your FIT to OVO, your rates would stay the same - FIT rates are set externally by Ofgem based on the date their system was commissioned and when you joined the scheme, for the length of your 20/25-year contract.

Changing the company providing the FIT payments doesn't change your eligibility. You can use the Switching form available on the FIT OVO Answers page to switch if they wish to do so: https://www.ovoenergy.com/ovo-answers/topics/payments-and-statements/payments/whats-a-feed-in-tariff-fit-and-how-do-i-apply.html.

Lastly, I’m happy to confirm that FIT payments are compatible with the EV Everywhere tariff.

So now you and @Steve587 are in the know, and you’re able to help out other forum users about this!

Tim
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Hi Vince
(1) I agree that it is not clear - I have looked at the Ofgem FAQ sheet and it refers to eligibility for payment and links it to application date to the FIT licensee, e.g. OVO, so it seems your rate will be that applicable at that time, not the original. Surely OVO can tell you what you will get?
FAQ link here
https://www.ofgem.gov.uk/system/files/docs/2017/04/fit_factsheet_v3.pdf
(2) Not sure about the EV issue.
(3) Even if you are switching supplier, I'm not sure you have to switch your FIT account as well, as it seems to be an entirely separate transaction and relationship to that linked to a "normal" supplier account.
Thanks Steve for your comments. I doubt very much that NPower would continue to pay my FIT payments quarterly directly into my bank account (as they do right now) if I switched to another electricity supplier! And if I switch to OVO then it looks like my FIT payments will be cut by a factor of 5 if I have to re-apply. So I cant see any benefits at all (but several big negatives) in switching supplier to OVO.
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I suppose it depends what the overall cost equation comes in at - are you saving that much by switching to OVO compared to npower that the FIT payments aren't so much of a factor?
My current FIT payments are worth around £800 per year, Im sure any savings from switching to OVO wont come close!
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So, if I want to switch my electricity supplier to OVO will they take on my current FIT payments at the same rate as Im currently on, or will my FIT rates be reduced to that of a new solar FIT applicant (as per the FAQs) Plus, are FIT payments compatible with the new EV account? None of this is clear to me.

Hi @Vince31 and thanks for reaching out on the forum about this.

A Feed in Tariff (FIT) and a domestic supply are treated as separate contracts. OVO would be happy to supply energy and for our customer to receive FIT payments from another FIT licensee (though their rules may differ, so you should check in with Npower about this).

If you did choose to switch your FIT to OVO, your rates would stay the same - FIT rates are set externally by Ofgem based on the date their system was commissioned and when you joined the scheme, for the length of your 20/25-year contract.

Changing the company providing the FIT payments doesn't change your eligibility. You can use the Switching form available on the FIT OVO Answers page to switch if they wish to do so: https://www.ovoenergy.com/ovo-answers/topics/payments-and-statements/payments/whats-a-feed-in-tariff-fit-and-how-do-i-apply.html.

Lastly, I’m happy to confirm that FIT payments are compatible with the EV Everywhere tariff.

So now you and @Steve587 are in the know, and you’re able to help out other forum users about this!

Tim
Do I still need to submit a meter reading for my FIT tariff if I have a smart meter?
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Hi @Chesterbear - I've moved your post over here, more info above!
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Hi Chesterbear

FIT readings are completely separate to your domestic supply readings via your smart meter, so, yes, you have to submit separate readings

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