Updated on 20/03/23 by Emmanuelle_OVO
The Price Cap which is set by Ofgem means the maximum cost that a supplier can charge a customer on average, per year. The Price Cap is influenced by wholesale costs. This includes distribution costs in each region. OFGEM takes a look at the underlying costs to supply energy and sets the cap accordingly.
The prices you’re paying for your energy may be changing soon. For all the up to date advice, see this page for more details of the April price changes.
My prices are changing, do I have to do anything?
If you’ve got a smart meter
As long as your smart meter sends us your readings remotely at least every day, there’s nothing that you need to do. You can tell this by looking at your online account: once you’ve logged in, look for the tile that says: "Your smart meter is sending them to us automatically. Nice one!"
You can check the readings we receive from your smart meter on the meter readings page. You can find this in the ‘Account details’ section of your app (download for Android or iOS), and ‘Reading history’ online.
Your plan’s prices will update on your online account, smart meter and In-Home Display automatically. This means we’ll bill you accurately from the 1st using the new unit rates.
If your smart meter only sends us your readings once a month, we’d recommend you submit a meter reading now or later this week via your online account.
Not sure how to read your smart meter manually? You can find out how here.
If you’ve got a traditional (non smart) meter
We’d recommend submitting a set of readings now or at some point this week. This will make sure we start charging the new rates from an accurate point in your usage. The quickest way to submit a meter reading is via your online account or OVO Energy app (download for Android or iOS).