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Unit charges from October

  • 13 September 2022
  • 16 replies
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Is there any information yet on the actual unit and standing charge costs for Economy 7 tariffs from October? I'm having to best guess day and night rates based on existing published rates to try to do an accurate DD projection. I'm in the Southern region and I have the base costs but it would be nice to get actual Ovo confirmed prices.

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Best answer by Emmanuelle_OVO 14 September 2022, 10:51

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Userlevel 7
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Hi @TiminSurrey ,

I’m afraid they’re not available juuuuuuuust yet but will be from the 1st October.

OK, many thanks but I'm not sure why they can't be published before the day they are effective. I *know* OVO have them because of the their DD projection, which must take E7 usage and rates into account.

Strangely reticent!

Userlevel 3

Hi @TiminSurrey,

 

Welcome to the OVO Online Community.

 

Usually customers would be told 28 days in advance of their unit rates changing on the Simpler Variable Plan. But as the Energy Price Guarantee was announced very recently, we’re working through the finer details of it. 

 

You should be told your new rates 10 days before. With the new faster switching started by OFGEM this will still give customers the chance to move to other providers if they would like to do so. 

 

Here is a helpful guide we’ve put together about faster switching:

 

 

Hope this helps.

I won't be switching - pretty happy with OVO overall 🙂, but as a spreadsheet engineer (yes, I know!) it's frustrating to have to guess at numbers. No major problem, it sounds like you'll have them available soon anyway.

Userlevel 3

Updated on 23/09/22 by Emmanuelle_OVO

 

The prices you’re paying for your energy may be changing in October. For all the up to date advice, see this page dedicated to the Energy Price Guarantee. We’ll keep that page updated with any changes as and when.

 

If you pay by Direct Debit, we’d recommend you leave this unchanged until any price changes have been made in October. That way you know you’re paying the right amount. 

 

If you don’t have a smart meter that sends us your readings remotely every day, we’d recommend you submit a manual meter reading this week or next via your online account.  

 

Userlevel 1

Thank you everyone for your replies they have been very helpful.

Hopefully we will all know by the 20th of September.

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The government has still not finally decided the details of the scheme, so the energy suppliers cannot finalise anything either.  Plus most of the focus hs on “normal” tariffs, and economy 7 is never going to be a top priority, but will likely be published soon. Perhaps OFGEM will be the publishing method.

Although I'm not hugely bothered about not having detailed figures yet - National and regional rates have been published,  eg by Martin Lewis, and OVO aren't going to be far from those. E7 rates will be higher than the published rate for day and lower for night (obviously)  its just a question of by how much.

I am concerned, though, that OVO have stated that DD reviews should be ignored. Well, where is this advice? I can click through on the app and get a DD recommendation and, but for this conversation, could have dropped my payment from £180 to £160. This calculation is using data which OVO have made clear (above) they don't control. Sorry, but this is crazy! Surely OVO have to disable the calculator, or provide a warning that it should not be used at present.

I know the numbers are coming shortly, but I still think there are issues here that could catch people out.

Userlevel 3

Hey @TiminSurrey,

 

That’s a good point.

 

I think because the announcement was very recent and the government hasn’t outlined the exact details yet, we are currently trying to work out the practical application of the energy price guarantee

 

Our online account platform is provided by Kaluza our sister company and automatically has the direct debit review calculator tool built in so I imagine it would be difficult to suspend this for a short period of time. 

 

We should be informing customers of the Simpler Variable Prices 10 days before the October increase, with faster switching this will still give customers the opportunity to switch to another supplier if they decide to do so. 

 

Hope this helps. 

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MSE has now published EPG prices per region.

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And edf have published their prices for all payment methods:

 

government_energy_price_guarantee_prices._standard_variable_deemed_and_welcome._credit_meters.pdf (edfenergy.com)

Many thanks, very interesting. I'm  guessing OVO will release their figures to the same level of detail next week.

Doesn’t look like OVO have published their Oct 1st unit rates yet?

Userlevel 7
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Doesn’t look like OVO have published their Oct 1st unit rates yet?

I have had mine tonight via email.

They do vary by region, how you pay etc.

So these are for dual fuel, monthly direct debit, Eastern region, including VAT, on the Simpler Energy Plan. 

Electric unit rate 35.05

Electric standing charge 38.93

Gas unit rate 10.3

Gas standing charge 28.48

So i would hope you get an email soon.

The £400 Energy Bill Support Scheme payments from the government are separate to this. 

Doesn’t look like OVO have published their Oct 1st unit rates yet?

I have had mine tonight via email.

They do vary by region, how you pay etc.

So these are for dual fuel, monthly direct debit, Eastern region, including VAT, on the Simpler Energy Plan. 

Electric unit rate 35.05

Electric standing charge 38.93

Gas unit rate 10.3

Gas standing charge 28.48

So i would hope you get an email soon.

The £400 Energy Bill Support Scheme payments from the government are separate to this. 

Thanks. I shall keep an eye out for the email :)

No email here yet, surprised that some people have received theirs while others haven't as we're within ten days of the supposed change. Maybe OVO are going to delay the rollout and save us a few quid 🤣!

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