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

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.

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!

 @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?

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

@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.

My fixed contract has an end date of 10th March. Does this mean it finishes at midnight tonight (9th going into 10th) or midnight tomorrow night (end of 10th)? Just need to know when to fill up my batteries!