No adjustment to my Fixed Price- What about the Energy Price Guarantee?

Got through on OVO web Chat this morning (number 11 in the queue on joining) and have agreed to be moved to the Govt EPG via OVO’s Standard Variable Tariff (SVT).  Advised charges (all electricity) to be applied (inc VAT) are Tariff = 33.85 ppkWh, Standing Charge = 52.64 pence per day.  This has already been adjusted in my OVO plan and has been updated in my smart meter / IHD.  No charge applied for coming off the Fixed Price Contract and I will now be able to reduce my DD in line with these new charges and my anticipated annual consumption.  The Customer Service representative advised that all customers in a similar situation to me (that hadn’t already arranged with OVO customer services directly) would be similarly moved to the SVT within the next seven days.  I wasn’t sure why my Fixed to Variable plan change date was set as 2nd October and not the 1st October in my account, but I’ll not worry about that until the end of the next billing period.  NB. I live in Cornwall so not sure how representative my own Standing Charge is to other parts of the UK.  I understand OFGEM aren’t publishing the agreed Standing Charge cap for all UK regions until next week.

Hi @waiwurrie and @Electric_Twit,

Please see my advice on this similar thread:

If you are on a fixed tariff and are affected by the Energy Price Guarantee (EPG), OVO will contact you directly about your new rates and move you to the Simpler Variable Plan. Please keep an eye on your emails. There is no need to contact customer support about this, it will be done automatically.

If they haven’t contacted you yet, they will. We are making sure we review every customers account to check if they would benefit from switching plans, or if they are best staying on their current tariff. We are also contacting every customer on the variable tariff with their new rates. 

@waiwurrie what you are seeing on your bill, is on every OVO statement. It is OFGEM regulation to advise customers when they’d benefit from switching plans. If it’s promoting the Simpler Variable plan then that suggests you will be a customer affected by the EPG and we will be in touch!

Hold tight!

Hi @Emmanuelle_OVO I know where it comes from.  I am not expecting the EPG to benefit me - if only I could find out what the rates being offered by OVO for my region are I could add them to my spreadsheet and I would know.  However there is a common theme her of other companies publishing them and not OVO.

I appreciate the moderators are volunteers and even those that work for OVO don’t have access to the systems (officially). Thank you.

But I don’t want to be switched automatically I just want someone to tell me what the correct (accurate) rates are for my property!

i got my region rates sent yesterday after speaking to someone from ovo on whats app

Here are the price tables for electricity and gas derived from the OFGEM announcement of 29 August which allowed new price caps from 1 October 2022 for variable price tariffs, and then how these rates are amended to take account of the Government’s Energy Price Guarantee (EPG).  These are for Direct Debit customers.  As OFGEM do not publish unit or daily rates, they have to be calculated.  Plus OFGEM set price caps only for certain benchmark levels of usage, so one has to work back by taking the amount allowed for the standing charge away from the figures for the benchmark consumption, and then divide by the benchmark usage level.  It has to be noted that suppliers can charge lower than the maximum allowed standing charge which would allow a higher unit rate to be charged instead.  Few actually do this.  In applying the EPG, only unit prices are affected, and so the increase in standing charges authorised by OFGEM goes ahead unaltered.  The prices calculated after the EPG reductions have been applied also represent the “floor rates” for customers on fixed price tariffs, thus they are the prices to which the EPG will lower prices using the 17p reduction on Electricity and 4.2p reduction on gas.  The EPG will not bring rates below this floor  level.  Some customers on recent fix tariffs might find that even after applying these reductions their rates remain above the EPG variable rates (or the EPG floor rates – they are the same).  These customers should refer to supplier statements on what needs to be done- it looks as though they will be switched to the standard variable rates.

See next post for the rates.

I got the dreaded email last night:

---------

Hello,

We wanted to let you know that there will be some changes to your energy prices.

Our attachment explains what's happening and how this affects you. Please read it carefully, as it includes options for what you can do next.

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...but the attached pdf is completely blank. Have tried to call but the phones say its for emergency customers only. No messaging available on site so this seems the only way to contact.

As its blank am assuming there is no change and that no action is required, otherwise can someone from OVO get back to me here?

I’m planning on using gov money + top up payments if/when necessary and will cancel the DD if necessary.

Thanks

Thanks for reply :) .... All I see though is ‘messaging unavailable right now’, and i’m unable to ‘….read it carefully and decide what to do next’ as the attachment is blank.

What for? the PDF? I’ve tried it on Chrome, Edge and both mac and pc Mobile Android and  Mobile Iphone. The PDF attachment is definitely blank :) 

My recommend direct debit hasn't change this month according to the proce cap, its has gone higher from £312 to £422.  When will I see the price cap on my account as my bill is already unaffordable?

Moderators have been notified and this thread has been acknowledged. Please wait and they’ll stop by when they can!

@Dalvid unfortunately all the price cap has done for you is limited the increase that would have occurred. Unit costs and standing charges will still have increased i am sorry to say. Hence your direct debits will have increased.

You will be getting some support via the energy bill support support scheme. More details can be found here. 

https://www.ovoenergy.com/energy-bills-support-scheme

This scheme gives you £400 over 6 months which isn't included in the direct debit calculations

@Dalvid

Unfortunately rates also went up in April so you are seeing the results of at least 2 increases in that comparison, maybe more if you were on a fixed rate tariff at any time.  I and many others are also seeing large increases vs last winter unfortunately. 

You can check your direct debit figures.

On the link i provided you can see you unit rates, standing charges and something called Future Annual Consumption.

This is what OVO estimate you will use over a year. The system automatically adjusts this figure as you vary your usage. 

You can work out your estimated annual cost and hence direct debit from this. Or feel free to post your unit cost, standing charge and Future Annual Consumption from the page and someone can calculate and double check if you like. Up to you obviously. 

Do you have a smart meter and did you transfer to OVO any time recently?