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Daft question - Fixed Term does this mean Fixed DD for 12 mths?

  • 6 November 2018
  • 2 replies
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Stupid question but if I choose a Fixed term for 12 mths does this mean I can't change my DD if I am continuously have a large credit balance?
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Best answer by Mw2870 6 November 2018, 21:33

Hi @Litlun, Welcome to the forum! Not a stupid question at all!

Fixed Term normally means that the price (e.g. standing charge and per unit) are fixed for the duration of the contract (e.g. 12 months). OVO can't put your prices up until that 12 months is over. Your Direct Debit amount may go up or down depending on how much energy you are using, but the price you pay per unit for that energy, won't change during your contract. It also normally means that there are exit fees if you wish to leave early and transfer to another supplier.
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Hi @Litlun, Welcome to the forum! Not a stupid question at all!

Fixed Term normally means that the price (e.g. standing charge and per unit) are fixed for the duration of the contract (e.g. 12 months). OVO can't put your prices up until that 12 months is over. Your Direct Debit amount may go up or down depending on how much energy you are using, but the price you pay per unit for that energy, won't change during your contract. It also normally means that there are exit fees if you wish to leave early and transfer to another supplier.
Thanks very much all clear!

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