If I cancel my Direct Debit to OVO will I be moved from fixed plan to a SVT Simpler price cap tariff?

I am paying monthly by my meter reading. I won't pay by DD I don't want OVO having my money upfront and changing it when they feel like it. I already have a ongoing complaint with them from my change over from SSE . Which will take months for them to sort out.

Yes I agree the fixed is the way to go, I didn't concider the exit fees.

Like a lot of people OVO have increased their DD,  mine has gone from £115 to £225,  for some it will have gone up by much much more.

Thanks for the replies,  hope it helps other people thinking of cancelling their DD whilst on a fixed deal,  it's the best of the bad deals I guess for now anyways. 

Hey

im thinking of cancelling my DD and paying for what I use, I know I have to advise them of my intent( so not to be black listed) 

has anyone else done this please? 

This is not a good time to do that to be honest. If you cancel your direct debit, you will lose any fixed rate deals you currently have and will be forced onto standard variable. The next price cap is due to be announced this week and it will only last for three months, not six like the ones so far. Any potential savings now will be destroyed come the new year.

Thanks for responding, I’m already on a variable rate, which is increasing as expected, but I’m paying double already to what my actual usage is? So am in credit by a good amount. I just think if we were all in credit by £1000 they’re all earning a good commission on our overpayments? 
hooe that makes sense? 

Even more of a reason not to cancel the Direct Debit. The tariff rates for Pay On Demand/Pay On Receipt can be higher than Direct Debit due to the extra risk and costs that OVO incurs.

As for commission? Some people say it’s technically the only thing keeping some suppliers alive right now. Ofgem will eventually clamp down on that behaviour but it’s a long road. If you have a lot of credit right now, trust me… You WILL need it and you’ll be glad you stayed on Direct Debit so that it doesn’t hit your payments anywhere near as badly.

The profits made by energy suppliers are also miniscule, you’re talking maybe 1% profit margins at best after all costs are deducted.

If it ain’t broke, don’t fix it!

All that said, @TessDay, you’re perfectly entitled to pay on demand on Simpler. It’s your choice and you don’t need to even let us know. 

Why not have a look at reducing your Direct Debit instead, via your online account?

@Tim_OVO  I would as would be cancelling a DD ? So if not informed payment would be returned then that’s where the bad payer starts? 

If you’re on the variable plan, Simpler Energy, there’s no contractual requirement to have a Direct Debit in place. Instead you could pay on the receipt of the bill. If you didn’t make those payments to keep your balance at or above £0, you’d enter our debt collections journey. But other than that you’re all good. 

As blastoise says, we recommend you keep a Direct Debit active to automate payments, and have it set to the recommended amount to keep you out of debt this winter. Have a look here at what that amount is, and make any changes:

https://account.ovoenergy.com/payments/direct-debit/change-amount

You may also find some of the resources and support channels listed here worth considering.