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I
Rank 1
iqute1
Rank 1
August 22, 2022
Solved

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

  • August 22, 2022
  • 22 replies
  • 3444 views

Hi A lot of people had been saying they will/might be cancelling their direct direct and paying only the amount that they owe, I have searched the forum but can't find out what will if I do cancel it,  so will it be A or B

 

A,  switched from my current fixed tarrif to the SVR

or

B, stay on my current fixed tarrif 

As being moved to the SVR will see a huge rise in my future payments come October and January

Thanks in advance 

 

Best answer by Blastoise186

Updated on 04/09/25 by Chris_OVO:

 

Hi there @iqute1,

 

OVO doesn’t support any payment method other than Direct Debits if you’re on any OVO fixed rate plans, so cancelling it will result in you being asked to reinstate the DD or be moved onto the SVR plan Simpler Energy. You will get a chance to re-instate the Direct Debit first though. You might be charged an early exit fee if this happens.

 

To be honest, I’d strongly recommend staying on fixed rate with the Direct Debit in place if possible, especially if the rates are below the next price cap.

 

Hope this helps!

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.

22 replies

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M
Rank 2
mwrutherford
Rank 2
September 6, 2022

Good evening folks.

Thank you one & all for taking part in the discussion.

I’ve changed my mind & will continue with monthly d/d whilst monitoring our actual usage.  If it appears that our energy saving efforts are working then the monthly d/d may go.

Our latest bill has seen an increase of nearly £110 credit to £264 despite remaining at our £150  monthly d/d set earlier this year.

In addition to a new ATAG boiler, new dg windows , radiator reflectors & a bio fuel fire we are also now booked for a Solar Panel with Battery consultation.  And that’s the savings gone!

Cancelled the Hybrid car (self charging via petrol engine).  Can’t afford that now & want to have something in case OVO account goes into debit.

NB We’re going to be paying towards our two daughters energy bills too - I really hope that the Conservatives (or SNP up here) get to grips with this crisis.

M
Newcomer
meldrewreborn
Newcomer
September 6, 2022

OFGEM reckon paying by cash / cheque rather than DD adds £215 to the average bill. Think it through!

Eon and EDF customer. Don't think smart meters are worth the expense.
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