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My existing plan still has a year to run, but my annual statement advises that I could save around £300 by changing plans. How to do this online?

  • 28 February 2020
  • 7 replies
  • 163 views

My existing plan still has a year to run, but my annual statement advises that I could save around £300 by changing plans. I cannot find how to do this on the website. Do I have to call someone?

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Best answer by Nancy_OVO 2 March 2020, 13:42

Updated on 09/09/2020:

 

If you’re in a fixed tariff, and you still have another year left on your current contract then you won’t be able to renew yet without inuring early termination fees.

 

You can check the dates and the contract details (such as exit fees and when they expire) on your online account. Here’s the section to check:

 

 

The section of your statement that you’re looking at on the first page, titled “Could you pay less?" is a section that we’re obligated to include on all members’ statements, regardless of whether they’re in a fixed plan or not. See this blog post for more info. 

 

We’re obligated to make all members aware of our cheapest plan, so that they’re aware if they could make a saving or not. However, if you’ve already fixed into a plan, then you wouldn’t be able to change without incurring exit fees, until your renewal period.

 

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7 replies

Userlevel 6

Updated on 09/09/2020:

 

If you’re in a fixed tariff, and you still have another year left on your current contract then you won’t be able to renew yet without inuring early termination fees.

 

You can check the dates and the contract details (such as exit fees and when they expire) on your online account. Here’s the section to check:

 

 

The section of your statement that you’re looking at on the first page, titled “Could you pay less?" is a section that we’re obligated to include on all members’ statements, regardless of whether they’re in a fixed plan or not. See this blog post for more info. 

 

We’re obligated to make all members aware of our cheapest plan, so that they’re aware if they could make a saving or not. However, if you’ve already fixed into a plan, then you wouldn’t be able to change without incurring exit fees, until your renewal period.

 

Hi @Nancy_OVO 

Thank you for your reply. I understand it is a legal requirement,  but can I make a request that this clarifying information is added to the annual statement, to prevent any future confusion with the savings shown. 

Userlevel 6

That’s fair feedback, @KMC, I’ll pass it on. 

Thanks! 

If by changing tariff, even with the £60 exit fee we can save nearly £300 per year is it better to allow this rather than lose a customer - given that we would be staying with OVO. 

Userlevel 7

If by changing tariff, even with the £60 exit fee we can save nearly £300 per year is it better to allow this rather than lose a customer - given that we would be staying with OVO. 

 

Hi @Sarge if it works out cheaper to switch tariff and force a renewal, then it makes sense to go for it. Send us a message on webchat via the Help Centre to sort.

 

More info on our pricing principles here

Userlevel 1

I'm in the same boat. Today's statement said "You could save: £139.00" on "OVO Better Energy 02 September 2020" but I'd have to pay you £30 to switch to achieve this saving. 

It would be more accurate if you'd said I could save £109 as that is what the saving is in reality. As it's only 2 months to my renewal the savings would amount to no more than £20 at a cost to me of £30 so I'll reconsider changing in November. 

However, to send monthly messages effectively saying "you're overpaying us for your energy" is a bit insensitive without the explanation as to how to achieve the savings, and if indeed there are any savings to be had. 

I would support moving this message to the annual statement while making it available on the website for information of anyone who wants to check if their current plan is the cheapest.

Userlevel 7

I would support moving this message to the annual statement while making it available on the website for information of anyone who wants to check if their current plan is the cheapest.

 

This is great feedback, @adrian774 and you are not alone at being caught out by this. 

 

Here’s the ‘best answer’ (at the top) that I’ve just updated, which explains a bit more:

 

If you’re in a fixed tariff, and you still have another year left on your current contract then you won’t be able to renew yet without inuring early termination fees.

 

You can check the dates and the contract details (such as exit fees and when they expire) on your online account. Here’s the section to check:

 

 

The section of your statement that you’re looking at on the first page, titled “Could you pay less?" is a section that we’re obligated to include on all members’ statements, regardless of whether they’re in a fixed plan or not. See this blog post for more info. 

 

We’re obligated to make all members aware of our cheapest plan, so that they’re aware if they could make a saving or not. However, if you’ve already fixed into a plan, then you wouldn’t be able to change without incurring exit fees, until your renewal period.

 

 

Here’s a blog post on this:

 

 

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