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Renewal prices are too high - do you price match?


I am a Pay Monthly customer. I have looked at my usage, and used Money Supermarket to asses other suppliers as well as OVO and the renewal offers.

OVO is around £200 more expensive PA than the cheapest and £140 more that the cheapest that I would consider. But I don’t really want to leave OVO. Can you help me out with the prices? I am prepared to sign up for a 2 year fixed if you can offer me something to close the gap on price?

If nothing else this post must be worthy of a discount, simply because it doesn’t involve the yawn fest that is smart metering.

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Best answer by stateofit 25 March 2017, 08:13

It's a crazy time in the energy market. The wholesale price of gas and electricity has gone rocketing up in the last 8 months or so (Yes, I look up stuff like this, I'm a bit sad...). Beginning of 2016 prices were very low, and have just gone up and up since June, and are apparently still going up...

One of the things I really like about OVO is the fair and honest pricing policy. The unit rates are amended to match the wholesale price, so last year when prices fell many energy companies rubbed their greedy hands with glee while OVO dropped prices almost immediately. This year energy costs more so prices have to go up...

There's a worrying trend in energy now with some companies doing those "cheap deal for new customers only" type of deals, like they've done in insurance for years. They hook you in with a good rate, only to find that you can't have the same deal next year cos your "not new business anymore". They rely on people forgetting to do something about it, and then you're on a high cost tariff again. Horrible way to treat customers. And I can only assume that the higher cost tariff help pay for the cheap deals...

OVO give everyone the same price so it's fair. I know that no-one's getting a better deal than me cos they arrived more recently or pretended they wanted to leave... I really respect that, and while I did see a few cheaper deals around my renewal in December I happily sucked up the higher rates this year, cos I doubt very much that Bob's Discount Energy have a great website, simple bills or a forum like this...

And didn't an energy company go under last year? GB...? I'm fairly certain they tried to offer cheap deals to win business and got caught out by the rising costs. Somehow I don't think that's gonna be an issue with OVO, they seem to know what they're doing…

Updated 06/05/2020

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Userlevel 7
Appreciate prices have gone up this year @raddy59, if you signed up 2 years ago, prices were a lot lower back then, and to deliver a sustainable business to support our customers and services, we won't offer loss leading tariffs.

Might be worth checking out this OVO renewal topic, as others have been discussing this and we've been detailing why we think OVO is worth the little bit extra.
Userlevel 3
Well, unfortunately I'm going to be saying goodbye. Coming to renew now, and compared to what I was quoted 21 days ago, has now shot up by a further £200/year, bringing it to an eye watering £1831.14 a year!!! That brings my monthly costs from £101/month, to £152.60/month! Sorry, but that is absolutely ridiculous!

Not only are the kWh rates not as competitive as many other providers (including the 'big 6'), but the standing charge is one of, if not THE, most expensive one out there at 27.4p/day fir both electricity AND gas!

Bonkers...
OK I switched today.
They say it will take up to 21 days - I have 10 days left on my current plan
What happens at day 11 if the switch hasn't completed?
I think you will find that you revert to OVO's standard variable tariff until the switch is complete.
Switching here too - OVO's renewal prices were expensive a few weeks back but have shot up again since then.

Bulb's price is almost the same price as the 2yr fixed rate OVO deal that's expiring.

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