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If I renew before my current plan ends when will my new contract start?


My current plan ends on the 3rd Oct and was wondering that if I take up another 2yr plan as offered on my renewal page on myovo will the plan start the day I renew or the 3rd Oct and will I have to pay exit fees for my current plan?
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Best answer by Eva_OVO 13 August 2019, 16:08

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Just received our contract end email giving details of the new contracts we could move to. Our current contract ends 25th September, will our new contract (if I accept one) start immediately or will it delay the start until our current contract ends in September?

Regards
Paul
Userlevel 6
Hey @ccfcforever1987,

Welcome to the forum, I have slightly tweaked the title of your post to help other users find.

If you choose to renew it will automatically delay until the end of your current contract.

I hope this helps!
Userlevel 5

Updated on 25/04/22 by Jess_OVO

 

So you’re coming to the end of your plan with OVO and wanting to check out the new plans we’ve got on offer for you and fix yourself in for another year or two?

 

You don’t need to give us a call, unless you’d like to discuss your options with the team you can renew your plan yourself on your online account or OVO app (download for Android or iOS).

 

We’ll email you (or send a letter if you’ve opted in to postal communications) to let you know when you’re in your renewal window, this is the 49 day grace period at the end of every energy plan. During this time you’ll be able to fix in to a new plan with us or switch away with no exit fees if you’d like.

When you log in to your online account or open up your OVO app during the renewal period, you’ll see a renewal message on your Homepage.

 

Exact appearance may vary

 

Click on the ‘Pick your new plan’ button to see the options available,

 

Exact appearance and plans available may vary

 

You’ll have a view of the recommended Direct Debit amount on each new plan, as well as the unit rates and standing charges on each plan by clicking ‘Tariff Information Label’. This is useful in making comparisons of these plans to those that might be offered elsewhere.

 

Found the plan for you? Click ‘Renew now’ to choose this plan. You’ll then receive a confirmation email of your new plan details and the new plan will begin the day after your current plan ends.

 

There’s more info on completing a renewal (when the time comes) on this great guide!

 

Interested but not yet an OVO member? - Check out our plans!

 

Ok thanks

My current deal with Ovo is coming to an end in early March. If I pick a new plan now, can I be sure it will only start after my existing plan finishes at its current end date? I don't want to go onto the new tariff earlier than I have to.

 

Any guidance would be appreciated!

 

Thanks.

Userlevel 7
Badge +1

Hi there @Jon C ,

In general, the best way to find out is to try renewing directly with OVO - not via any price comparison sites - and see what MyOVO tells you before you commit to the renewal. From my understanding, you should be able to schedule the renewal on the new plan to trigger when your current one ends or trigger immediately, depending on what you’d prefer to do.

However, if the contract runs out before you renew, you don’t get cut off - you’re simply moved to the Simpler Energy tariff on a rolling basis and are no longer locked in. Either way, you will always be asked to give consent before a new/renewed contract can start.

I hope this helps.

Many thanks!

 

Userlevel 7
Badge +3

 @Jon C - remember that you have a 14-day cooling-off period under the Consumer Rights Act because your energy contract is a Financial Service. So if you renew but the start-date provided to you by OVO is too early, you could just cancel and start again.

The last time I renewed (about 14 months ago) I checked the OVO site each day, starting about 6 weeks before the end-of-contract. I was comparing the rates between the 1-year Fixed and the 2-year Fixed.

About 2 weeks before my end-of-contract I noticed that the 2-year tariff had suddenly dropped in price, whereas the 1-year had been slowly rising. So at that point I immediately opted for the longer contract.

Unsurprisingly, by the time my new Contract started, that 2-year tariff had gone up again!

So don’t be in a rush to make a decision. Just watch what’s happening for the next 3 weeks so you can get an idea of which way the rates are heading.

Hi there,

I’m currently in a fixed tariff until August, but have just received me renewal email.

I plan to re-fix for a year, but does anyone know if I renew now whether it moves me to the new (much more expensive) fixed tariff straight away, or does it move at the end of my current fix in August?

I’m also wondering how likely it is that the currently fix offer will change between now and August?

Userlevel 7
Badge +1

Hi @spoony !

If you renew now, the fix will apply from the date your current deal expires, but the agreed rate will be locked in immediately and made ready. You’ll still get to use up the remainder of the current deal in the meantime.

Personally, I’d lock in now before rates start to creep up again if it were me - and it’s unlikely to go down anytime soon!

Thankyou!

 

I hoped that was the case. Much appreciated

Userlevel 7
Badge +1

@spoony

 

If you are within 49 days of the end of your fixed rate you can switch to another supplier without paying the exit fee.

A switch typically takes circa 21 days to complete.

If you are thinking of going for another fixed rate and haven't yet fixed it is worth checking what other suppliers are offering on the open market, unfortunately OVO isn't always the cheapest. Today when i check, there are cheaper offers elsewhere for my postcode and usage, although this may not be true for all households.

The wholesale price of gas increased a few days ago so some offers have been pulled by suppliers.

 

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