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Can I sign up to the '2 year fix' plan publicised by Martin Lewis?

  • 14 March 2018
  • 6 replies
  • 430 views

Can I benefit by taking up this offer as an existing customer.
John.
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Best answer by Transparent 15 March 2018, 23:29

It depends on how this differs from your current 2-year Fixed Contract and how much energy you use.

I too am on a 2-year Fixed Contract, but because I might have commenced this at a different time to you, I can't know what your rates are. You'll need to log in to [URL=http://ovoener.gy/myovo]My OVO[//URL] to check your prices.

If I compare with the tariff that I am on, the new rates would lower my Standing Charge by almost 10%, but raise the cost per unit by 3.5% for electricity and 5% for gas.

Only you can tell if this would work for you.
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Userlevel 7
Badge +3
It depends when your current contract is up for renewal.

If it's due to end in the next 6 weeks anyway, then you can switch without penalty under guidelines from the Energy Ombudsman. That's why people receive offers from rival companies 6 weeks before your end-date if it's known by the Energy Comparison Sites.

If not, then you will be liable for the exit fees on your current contract because you are effectively "tariff-hopping".
I obviously didn't put my question right! I am in a 2 year OVO deal, is this announcement better than my existing deal or shall I stay as I am. My previous supplier allowed tariff changes without charge.
Userlevel 7
Badge +3
It depends on how this differs from your current 2-year Fixed Contract and how much energy you use.

I too am on a 2-year Fixed Contract, but because I might have commenced this at a different time to you, I can't know what your rates are. You'll need to log in to [URL=http://ovoener.gy/myovo]My OVO[//URL] to check your prices.

If I compare with the tariff that I am on, the new rates would lower my Standing Charge by almost 10%, but raise the cost per unit by 3.5% for electricity and 5% for gas.

Only you can tell if this would work for you.
Userlevel 7
Badge +3
Apologies, @Fingerman. That link should have been My OVO
Thank you.
Wow! I was going to do this later but decided to take a look. Pennies worse off per kwh and 3p per day on SC, so it pays to look carefully chaps!

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