Hello,
Does anyone know when Ovo are publishing the Simpler Energy (variable plan) unit costs for when the cost cap increases in October? All the articles say it's going up by 10%, but I want to know how this is being wrapped into the unit rates and standing charges which can go up be varying amounts, say 8% and 12%, such that the average for an average household = 10%.
Without this information it is impossible to calculate whether fixing is better or not.
Many thanks,
Piers
Best answer by Emmanuelle_OVO
Ofgem’s energy price cap limits what you pay for gas or electricity on a variable rate plan. You can see the latest information regarding the price cap levels and date changes on the Ofgem site here.
Ofgem announced that from 1 October 2024, the energy price cap will increase in line with wholesale energy prices which means the average annual household price cap level will increase from £1,568 to £1,717. We sent Price Increase Notification letters to our customers to notify them of the increase, from 2 September.
I received an email on 3 September.
From 1 October
Standing charge/day 64.27p
Unit rate/kW 24.61p
Ofgem’s energy price cap limits what you pay for gas or electricity on a variable rate plan. You can see the latest information regarding the price cap levels and date changes on the Ofgem site here.
Ofgem announced that from 1 October 2024, the energy price cap will increase in line with wholesale energy prices which means the average annual household price cap level will increase from £1,568 to £1,717. We sent Price Increase Notification letters to our customers to notify them of the increase, from 2 September.
That’s fine for existing customers, but what about the millions who want to compare OVO’s tariffs to others? I can still only see fixed-rate plans.
Apart from that, it looks from some posts in this forum as if OVO’s Economy plan offpeak rates have increased by much more than 10%, just in time for the heating season to start. Have wholesale prices for night-time electricity increased that much since July?
All the rates seem to be there his morning. Beware....you need to add VAT at 5% to all the figures. I wish they would quote the price we actually pay. If anyone from OVO is reading this ..... would it be possible to put another filter in so we could just see the variable rate tariffs instead of having to scroll past all the fixed rate tariffs??⁵
All the rates seem to be there his morning. Beware....you need to add VAT at 5% to all the figures. I wish they would quote the price we actually pay. If anyone from OVO is reading this ..... would it be possible to put another filter in so we could just see the variable rate tariffs instead of having to scroll past all the fixed rate tariffs??⁵
Hey
That’s fine for existing customers, but what about the millions who want to compare OVO’s tariffs to others? I can still only see fixed-rate plans.
Apart from that, it looks from some posts in this forum as if OVO’s Economy plan offpeak rates have increased by much more than 10%, just in time for the heating season to start. Have wholesale prices for night-time electricity increased that much since July?
Are you not yet able to see the variable tariff on your account
Are you not yet able to see the variable tariff on your account
Yes, they’re there this morning, thanks. However, that’s a bit late for someone who wanted to see whether it was a good idea to switch to OVO or not ahead of the price increase. In the past, forthcoming increased rates have IIRC always been published on the plans page, the switch page and the renewal page so people have time to react in time. I find it strange that this didn’t happen this time.
Did you get your price increase notification letter?
No, because I’m on a fixed-rate tariff 🙂
It’s a mistake to assume that only existing OVO SVT customers need to know what rates will be charged from the next price-cap change. Was there any particular reason for keeping the new rates secret until they’d entered into force?
No account yet? Create an account
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
