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What happens to my account credit when moving from fixed plan to variable tariff Simpler?

  • 6 September 2022
  • 3 replies
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Our fixed rate ends on 21st October and we’re being moved onto OVO’s variable ‘Simpler’ tariff. Seems we have no choice about this - they’re not offering any fixed rates. 
 

We have c. £350 credit on our account. Does anyone know if this will automatically be used towards (lol, “towards”…) our first bill after we move to the variable tariff? Or do we have to contact and instruct them specifically to put it towards the bill?

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Best answer by M.isterW 6 September 2022, 19:48

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Updated on 19/10/23 by Abby_OVO

The variable tariff works in exactly the same way as the fixed tariff. The only difference is that the price per kWh can be increased (with a fixed tariff it doesn't increase). So, your direct debit will continue to be collected, your bills will be calculated in the same way and your existing credit will remain on your account.

Userlevel 7
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Hi @Jomurray1981 ,

I’m Blastoise186, one of the forum helpers. :)

I can confirm that your existing credit balance would be used first, before any further money is taken from the bank account if you go onto the on-demand version of Simpler Energy.

If you’re on the Direct Debit version, things will continue as they do now on a fixed rate deal.

OVO has had to pause fixed rate deals as prices were just too high to justify.

Hope this helps!

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But inevitably the prices will be very much higher on the variation tariff and therefore it will be necessary to up you Direct Debit by a significant amount

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