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

  • 12 September 2022
  • 83 replies
  • 1691 views
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83 replies

C
Rank

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.

Coco
juliamc
Rank
Userlevel 7
Badge +2

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.

C
Rank

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 

Coco
juliamc
Rank
Userlevel 7
Badge +2

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… 

stead
Rank
Userlevel 4
Badge +1

Hey @stead,

 

Thanks for a great question!

 

If you have the OVO Drive + Anytime Add On, you will still benefit from the add on. Even if you are changed to the Simpler Variable Tariff.

 

If you are affected by the Energy Price Guarantee, OVO will contact you directly about your prices. 

 

Hope this helps. 

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​​​

Emmanuelle_OVO
Rank
Userlevel 7

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. 

 

Renewable Energy? Big Fan.
L
Rank
Userlevel 4

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

Abby_OVO
Rank
Userlevel 6

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.

Location: Electric Avenue

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