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How can I calculate if it would be worth switching to a single rate tariff?


I have recently installed an Ovo smart meter, but am amazed by how much my electricity bill is increasing. I don't think I'm using more electricity, the difference seems to be purely in the peak hours - I was getting the night rate from 10.30/11.00 pm to 07.00 am. Now that seems to have changed to 12.00 midnight to 07.00 am. How can I calculate if it would pay me to switch to a single tariff, please?
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Best answer by Lucy_OVO 8 May 2018, 15:20

Good topic @belgiantaff.

If your times have changed, it will be due to you having a teleswitch meter, as these adjust the timezone based on the time of year (BST/GMT). Both off peak and peak times will change though, not just one. If you’d like me to check your economy 7 times, just pop me a PM with your Meter Serial Number (this can be found on the front of your meter).

If you’d like to see whether your better off on a single rate tariff, check out the prices we’re currently offering in your area by checking our Quote and Switch page here: https://switch.ovoenergy.com/ (pop in your details to get a quote then you can see the breakdown of unit price/standing charge).

You’ll then need to add up your consumption for the past year (you can find this on each of your statements) to get your annual consumption figures in kWh’s. For example let’s say it’s 3,100 kWh for electricity and the unit price is 14p, your estimated annual spend would be £434 per year.

If this doesn’t make sense, drop us a comment below. :)

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Userlevel 6
Badge +2
Good topic @belgiantaff.

If your times have changed, it will be due to you having a teleswitch meter, as these adjust the timezone based on the time of year (BST/GMT). Both off peak and peak times will change though, not just one. If you’d like me to check your economy 7 times, just pop me a PM with your Meter Serial Number (this can be found on the front of your meter).

If you’d like to see whether your better off on a single rate tariff, check out the prices we’re currently offering in your area by checking our Quote and Switch page here: https://switch.ovoenergy.com/ (pop in your details to get a quote then you can see the breakdown of unit price/standing charge).

You’ll then need to add up your consumption for the past year (you can find this on each of your statements) to get your annual consumption figures in kWh’s. For example let’s say it’s 3,100 kWh for electricity and the unit price is 14p, your estimated annual spend would be £434 per year.

If this doesn’t make sense, drop us a comment below. :)
That link to OVO fails to quote an alternative tariff. Because I'm already a customer it simply gives 2 alternatives - standard and green - without the option of changing from economy 7..
Userlevel 5
Badge +2
Ah! In that case @belgiantaff - drop us a PM via our Facebook page and we'll take a closer look: https://www.facebook.com/ovoenergy/.

Thanks,
Emily
I wish to change my present Economy 7 meter for a standard tariff meter. How do I go about doing this, please, and is there any financial cost involved?
Userlevel 5
Badge +2
I've moved your query over to this already existing topic, @tim4rams

If you have smart meters installed, we can change you from Economy 7 to a standard rate free of charge. If you don't want to have smart meters installed, we can book you in for a meter exchange to a traditional standard meter but there would be a cost of £57.75 for this.

If you'd like to know what the single rate would be if you were to switch to a standard plan, send us a PM on Facebook with your full name, DoB and account number - https://www.facebook.com/ovoenergy.

If you're interested in booking a smart meter appointment then check out our availability here - http://smart.ovoenergy.com/credit.

Cheers,
Emma
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