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Renewal prices are too high - do you price match?



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I've just looked at my renewal rates and my unit prices have gone up astronomically.

Electricity - from 11.51p to 15.32p (33% increase)
Gas - from 2.61p to 3.37p (29% increase)

How can OVO justify this?
Userlevel 6
Check out the best answer for more info on this, @Robby P. I appreciate this topics a little old, but @stateofit is spot on here! 🙂
Check out the best answer for more info on this, @Robby P. I appreciate this topics a little old, but @stateofit is spot on here! :)

Thanks for the clarification that there's nothing you can do. I've instigated my switch to another provider.
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.
Wow! That is a big difference @Robby P . With an energy price increase of more than 30% I would think that more is needed than your stock answer @Eva_OVO
Userlevel 4
In that case, @raddy59, I'd get in touch with us to renew over the phone. Call the team on 0330 303 5063 when you can (we're open 9am-5pm today) and they'll be able to check the Direct Debits and get the renewal processed at the current Direct Debit amount.

Thanks,
Ed
Has anyone requested a quote for supply after your contract expires?
Userlevel 6
Hey @Oddies - I've moved your post onto this topic about renewal price changes.

Thanks
Hey @Robby P

In regards to current pricing, on Tuesday 18 December 2018, we increased the gas and electricity unit rates of our Better & 2 Year Fixed plans.

This price change is a 4.9% increase to our headline price for Better energy and a 2.2% increase to our headline price for 2 year Fixed energy.

We review our prices on a regular basis - this change is a result of competition across the energy market and increasingly volatile wholesale energy costs in regards to how much it costs us to buy the energy we supply you.

You can get more info here: https://www.ovoenergy.com/help/pricing
Worth checking if the unit costs you quoted include VAT or not? We definitely haven't increased unit prices by that much, so looks like the lower cost might be excluding VAT and the higher number, includes VAT. Worth double checking.

Darran

I was delighted to join Ovo in March last year and have been very happy with all aspects of the company, many of which are outlined above on this topic.

Naturally I was aware of rising energy prices and was expecting price increases of the order outlined above by Darran - if not higher, having seen a figure of 12.4% quoted somewhere in the media.

In the personalised breakdown I have received I have been quoted an absolutely staggering 31% increase, amounting to nearly £400 per year. This is quite unbelievable but appears to have happened to others and I can't see what it has to do with VAT.

Darran, you state "We definitely haven't increased unit prices by that much" and yet my electricity unit cost rises by over 35% and my gas by very nearly 29%. I assume you are a representative of the company so I naturally place trust and reliance on what you say.

What on earth is going on? I hadn't changed my energy provider for about 20 years and really thought I'd made a great choice, looking forward to many years with Ovo, but I'm left feeling utterly duped and misled.
Userlevel 7
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 dont really want to leave OVO, Can you help me out with the prices? I am prepared to sign up for a 2year 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.


Just checking in to see what you ended up doing @ic31420 :?
I've also tweaked this topic by adding some tags and changing the title. The reply from @stateofit was spot on so I've made that the topic's 'best answer'.

Hope that's OK,
Tim
Userlevel 7
My renewal notice has arrived and I would like to know how much electricity and gas I have actually used in the last year. Please can I get this info?
By the way, I would like to stay with Ovo but comparison sites seem to suggest (as far as I can work out) I can save a good amount by going elsewhere. (Due to shrinking household, my usage may well drop next year, which complicates things further!)
Jon


Hi @JonOvo

I've popped your query over to this older topic on renewals, just so it's all in the same place.

There's no one place (other then an annual statement) which shows your actual usage for the year. Each statement will show your usage for that month, and give you a comparison for the same month the year before. It will also give your annual usage average. Both of these figures can be found on the second page of the statement.

If you want an annual statement to be sent out to you, send me a PM with your account number, name and DoB.

Thanks,
Tim
Userlevel 7

Hello!

Ovo prices have just gone up + 20%.

I wish my wages went up 20% alongside the hikes in my bills.

This just encourages 'supplier surfing', other major suppliers are now offering rates at less than what I'm paying now without the increase.

Thanks!

 

Hi @mdavis

We did have a price increase for Pay monthly customers on the 16th September. We also had a Pay as you go price drop today, the 29th, to fall in line with the industry price gap.

Cost reflective pricing sits at the heart of our promise to our customers that the deal they're getting will always be fair, transparent and as competitive as possible. Remember that Pay monthly customers can fix their prices for one or two years.

Tim

 

Userlevel 7
An update to my previous mail. I've today signed up with a new supplier, Avro. The final switch over will be in the middle of November. Their quote was much cheaper than Ovo's and are a "Top Pick" on the Money Saving Expert energy quote site in terms of price and customer feedback.

It's always a risk going to a smaller provider but I have to balance that against getting a competitive price as it seems obvious that Ovo is leaving that arena.

My thanks to Ovo for the good service provided over the last 6 years.


I'm sorry to hear that you're leaving OVO, @CharlieF but I wish you the best of luck with your new supplier.

Think of us next time you go energy supplier shopping, and remember you can still get involved on the forum - we'd love to hear how it's going with Avro!

^Tim
Userlevel 1
And remember, price isnt everything. Didnt OVO come out top in the Which? Survey this year?

I dont think suppliers should be able to offer introductory prices for new customers only - it means new customers are subsidised by existing customers. I dont think OVO price match but they do offer new and current customers the same prices, and i think thats a fairer way of doing it.
Long term customer of OVO

Even with online and maximum credit at 5% new proposed tariff is well above the market.

Have a second property too, and FITS (payment is slow on this) so disappointed to have to leave.
My renewal notice has arrived and I would like to know how much electricity and gas I have actually used in the last year. Please can I get this info?
By the way, I would like to stay with Ovo but comparison sites seem to suggest (as far as I can work out) I can save a good amount by going elsewhere. (Due to shrinking household, my usage may well drop next year, which complicates things further!)
Jon
Userlevel 6
Hi @Sunningdale Power Station - I've moved your post onto this thread about renewing your contract. You should be able to find more info about why our prices might have increased on here.

Thanks
Been with OVO for 5+ years. Want to stay but your prices are much less competitive than they used to be
Hello!

Ovo prices have just gone up + 20%.

I wish my wages went up 20% alongside the hikes in my bills.

This just encourages 'supplier surfing', other major suppliers are now offering rates at less than what I'm paying now without the increase.

Thanks!
An update to my previous mail. I've today signed up with a new supplier, Avro. The final switch over will be in the middle of November. Their quote was much cheaper than Ovo's and are a "Top Pick" on the Money Saving Expert energy quote site in terms of price and customer feedback.

It's always a risk going to a smaller provider but I have to balance that against getting a competitive price as it seems obvious that Ovo is leaving that arena.

My thanks to Ovo for the good service provided over the last 6 years.
Hi Tim

Thanks for your good wishes. I will definitely check with Ovo when it's time to renew next year and, if your prices become sufficiently competitive, I will certainly be back.

Regards

Charlie
As Tim asked me to keep in touch, I thought I'd let you know how things are going with Avro.

I'm now 8 months in to my first year with Avro and, so far, all is going well. I needed to make a couple of phone calls to them in the early days, and they were very quick off the mark in answering (only around 3-4 minutes). Since then, I haven't needed to contact them because there haven't been any problems.

As they don't utilise my Ovo supplied Smart Meter, I need to take readings once a month and enter them online. This means more work than I needed to do with Ovo but it's worth it considering the savings I'm making.

I've put together a spreadsheet where I enter my readings, and calculate the charges. So far my calculations exactly match Avro's, which is gratifying. I've included some charts in the spreadsheet which show graphical representations of, costs and energy usage, which basically gives me all the information I need.

I was glad to have been a customer of Ovo but, for the things I'm looking for in an energy company, they seem to be falling behind. And now, the "Which?" Energy Survey has them in 6th place, level with Avro! In the previous 2 years, Ovo were number one!

I was sorry to leave at the time but it's looking like I did the right thing.
Our fixed rate plan end soon and we've been sent a renewal offer. There's a prominent notice on the renewal page that says:

"Fair pricing - We offer new and existing customers the same prices and you won't find a better OVO deal on comparison sites."

Unfortunately that's not actually the case. We've been offered a gas tariff of 3.150p/kWh (including VAT). But the rate being offered to new customers is 3.05p, and the rate offered on the uSwitch comparison site is 3.045p.

So if you're coming up for renewal, you might want to check your rates carefully.

Maybe one of the OVO team members might want to comment on this?
You have sent me an offer of a two year fixed rate,which is higher than my current contract, six months before my current contract is due to expire,as long as i renew now. That means i would be paying the higher rate for the next six months when i should be paying my current rate. It appears that you are trying to hike my price prematurely.
Userlevel 7
Hey @Robby P

In regards to current pricing, on Tuesday 18 December 2018, we increased the gas and electricity unit rates of our Better & 2 Year Fixed plans.

This price change is a 4.9% increase to our headline price for Better energy and a 2.2% increase to our headline price for 2 year Fixed energy.

We review our prices on a regular basis - this change is a result of competition across the energy market and increasingly volatile wholesale energy costs in regards to how much it costs us to buy the energy we supply you.

You can get more info here: https://www.ovoenergy.com/help/pricing

Worth checking if the unit costs you quoted include VAT or not? We definitely haven't increased unit prices by that much, so looks like the lower cost might be excluding VAT and the higher number, includes VAT. Worth double checking.

Darran

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