Recently signed up to a new fixed contract- Will my prices be affected by the Energy Price Guarantee?

Hey @coco34ymail.com,

If the unit rates and standing charge you pay are higher than the new Energy Price Guarantee then OVO will contact you directly. 

What are your current unit rates and standing charge? It sounds like your referring to your direct debit when you talk about prices.

The direct debit is based on usage, so if you are using more we’ll recommend you increase your direct debit. The best way to make sure your direct debit review is accurate is to submit actual reads to your Online Account. 

Emmanuelle_OVO wrote:

 

If your direct debit is too high, or you are building up a large credit balance you can reduce your direct debit and request a refund through your Online Account:

 

• How to request a refund on the OVO app Tutorial

 

Here is more information about how OVO calculates your direct debit:

 

• How does OVO Energy calculate my Direct Debit? Tutorial

 

• Getting to grips with the Direct Debit Calculator on your online account Tutorial

 

Hope this helps. 

I am not too bothered about prices per KW as its what comes out of my bank that concerns me and I budget monthly so keep a close eye on it.

If OVO want to contact me to reduce my prices per KW then fine but they are difficult to deal with as I have previously experienced so won’t be ringing them anytime soon.

I’m standing firm on the Direct Debit increase and still say £190 increase per month is a scandalous attempt from OVO to make price hiking alot easier to take and as I have said previously the excuses offered by OVO as to how direct debits is non sensical and doesn’t offer a reasonable explanation.

Hey @coco34ymail.com,

The Energy Price Guarantee refers to unit rates and standing charges. The direct debit is based on usage. If you use more, you have to pay more.

But if you think your direct debit is being over estimated, I'd advise submitting an actual meter reading to your Online Account. That way you can ensure your billing is correct.

We have some great guides advising how OVO calculates customers direct debits:

Emmanuelle_OVO wrote:

 

If your direct debit is too high, or you are building up a large credit balance you can reduce your direct debit and request a refund through your Online Account:

 

• How to request a refund on the OVO app Tutorial

 

Here is more information about how OVO calculates your direct debit:

 

• Getting to grips with the Direct Debit Calculator on your online account Tutorial

 

• How does OVO Energy calculate my Direct Debit? Tutorial

 

What is the point of a smart meter if you want meter readings.

My meter usage is fine and don’t doubt the readings are incorrect, if my usage had risen dramatically then I would question it and have a good reason for the £190 increase in monthly direct debits. 

The above isn’t the case and yet I am still waiting for OVO to send me any new rates etc???

It takes a while to send out several million emails. Rate limits on both sending and receiving infrastructure means that OVO can’t just blast them out to literally everyone at once. Be patient.

You should get an update by the end of the week.

I am not too bothered about a new rate as I can currently afford my monthly usage, my point is….

OVO have been very quick to increase direct debits by £190  in my case but haven’t given me any calculations to base it on. 

They have known about this for some time and are sitting back waiting for the last minute….not sure why.

I understand price rises and an increase in usage now the darker seasons are upon us so expect an increase but not 100+% with no real answer or workings out.

My fixed rate tariff is on until March 2023 and although I have been told on the forum I pay more than a few am happy with my Fixed Rate tariff but was slightly miffed at OVO trying to increase my DD over 100%.

I am in credit every month and make sure  i pay for more than I use.

Baffled.com

Hi @coco34ymail.com

I don't work for OVO.

Have a look at this page on the website, not the app

https://account.ovoenergy.com/plan

Here you will find your unit rates, standing charges and something called Future Annual Consumption. This is the amount of electricity and gas OVO currently estimate you will use over a year. The system automatically adjusts the number as it gets a better idea of your usage

Here is mine for example

OVO use the Future Annual Consumption to calculate your direct debits. You can manually calculate your annual cost and hence direct debits using the Future Annual Consumption. 

If you post the data from the page i am sure someone here can do the calculations for you if it would help to get a second opinion. Obviously you may simply be happy to do it yourself. 

My plan doesn’t show the Future annual consumption figures.

What does it show ? can you post a pic of it..

Note this is on the MyOVO website page, not the app.

You need to look at https://account.ovoenergy.com/plan from a computer, not from a phone in the app.

@coco34ymail.com third line from the bottom Future Annual Consumption 

Electricity 4445 kWh   Gas 11563 kWh

For each fuel multiply that number up by the kWh rate, divide by 12, that gives the amount OVO are charging you for the year.

I’m seeing your Electric EAC/FAC as 4445kWh and Gas EAC/FAC as 11563kWh based on that last screenshot as well

Lol I was looking at the bottom line only, 

So they reckon I will be in debit to them about £1700 by March 2023 but if I’m in credit every month and only paying £178 a month on my fixed rate then something doesn’t add up.

Pay for what I use on a month basis and start the new month either in credit or at £0.

If you were on the new government rate I calculate that would cost £230 per month in energy costs, then add the standing charges for each fuel to that. I can’t see your actual rates now as they were removed from this thread for security purposes. 

Send an up to date meter reading, if you’re not on a smart meter then send them monthly at least so the system can correct itself to near enough you annual usage.

You said your kWh costs didn’t matter to you but you’ll be moved to the new rate anyway, that’s what this government intervention is all for.

39p per KW electric and 14p gas.

I'm thinking that the heavy demands from energy companies with regards direct debits might be a sting in the tail for all. It's all been sewn up by the government and handed ro the energy companies to lap up the generous profits lol 

I’m sure there will be winners with this latest government, and I’m sure I won’t be one of them. However I also doubt that energy RETAILERS are going to profit by this. OVO isn’t an energy producer… 

Hi @Emmanuelle_OVO 

Just wanted to ask should I be chasing up support? I’m assuming prices will be applied backdated from the start of the month but then I’m reading some people on here have only had the price guarantee once contacting support... 

I can’t say I envy anyone answering the phone at any energy company at the moment, want to avoid adding even more stress as I have visions of mass walk outs on support giving longer times for waiting and angrier customers! 

Just starting to get a little nervous​​​

Hey @stead,

If you are affected by the cap recently bought in by Government, you’ll be contacted directly by OVO advising your options, but if it eases your mind then you can absolutely contact Support. 

Although I'd advise that our customer facing channels are currently seeing a lot of contact so it may be harder to get through.  

The latest advice from our team of experts is that our customers are being divided into the following categories:

“Customers on fixed tariffs cheaper than the Energy Price Guarantee should take no action and roll onto the Simpler Variable Tariff at the end of their current term.

Customers on a fixed tariff, that when we apply the Energy Bills Support Scheme discount will be slightly cheaper than the Energy Price Guarantee: We are advising they stay on their fixed tariff but they can move to Simpler Variable Tariff with no exit fees.

Customers on a fixed tariff, that when we apply the Energy Bills Support Scheme discount will be slightly more expensive than the Energy Price guarantee: They can stay fixed or can move to Simpler Variable Tariff with no exit fees. It’s their choice.

Customers that even with the discount will be significantly more expensive on their fixed than Simpler Variable Tariff: We are automatically moving these customers to Simpler Variable Tariff and they need to take no action.”

If you have yet to be contacted yet, don’t worry- you haven’t been forgotten! It’s likely your rates are close to the price cap and OVO are working out whether it’ll be beneficial for you to switch to the Simpler Variable plan. 

There is tons more information about this topic on our webpage dedicated to the Energy Price Guarantee.

Hope this helps. 

@Jeffus unfortunately the calculator is no use to me I'm on a Economy 7 simpler Energy Plan. 😕

Hey @Lucky2 

What is it you’re looking for, maybe we can help?

If you’re looking to view your current plan rates, you can see those on your online account under ‘Plan’ here.

You can also view your tariff details down the right hand side on your recent bills, next to the ‘Detailed Charges’ section.

Let us know if this isn’t what you were looking for and we can help you out with what you need.