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EPG VS New Price Cap

  • 26 May 2023
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So I'm just wondering when will we be switched to the variable plan shown on the renewal page? Or as we are capped sitll it makes no difference? The renewal page for me shows a variable plan with higher costs saying I will be moved on to it. In my mind the current gov cap is till 2024 so I should just ignore anything high but also pay attention to fixed plans getting lower? Anyone else thinking the same way or following the renew page to see if it goes down? 

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Best answer by Jeffus 30 May 2023, 16:37

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 Updated on 14/12/23 by Tim_OVO: Ofgem’s energy price cap limits what you pay for gas or electricity on a variable rate plan. Find out how it works – and how it affects your prices with our price cap guide.

 

You can also see the latest information regarding the price cap levels and date changes on the Ofgem site here.

 

You can see what you are currently paying in terms of unit rates and standing charges on this page. This is excluding VAT. 

https://account.ovoenergy.com/plan

The rates on the renewal page are including vat

The updated variable tariff rates from 1st July haven't been updated on the ovo website yet. The 1st July ovo variable rates will be based on the recently announced Ofgem Energy Price Cap. 

https://www.ofgem.gov.uk/information-consumers/energy-advice-households/check-if-energy-price-cap-affects-you

The government Energy Price Guarantee you mention is something different. This rises to £3000 from 1st July, so will be become irrelevant for the vast majority of people as the Ofgem Energy Price Cap will be lower than this. 

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