Solved

Was there a 10.6% price reduction today?

  • 13 November 2018
  • 2 replies
  • 123 views

The web site help (https://www.ovoenergy.com/help/pricing) says the following:

"When was your last price increase or decrease?
On Tuesday 13 November 2018, we increased the gas and electricity unit rates of our Better & 2 Year Fixed plans.
This price change is a 10.6% decrease to our headline price for Better energy and a 7.9% decrease to our headline price for 2 year Fixed energy.
We’ve made this change because of a decrease in wholesale commodity prices.
What does it mean for me if your prices change?
It doesn’t matter whether wholesale market energy costs rise or fall – your unit prices and standing charges will stay the same for the duration of your fixed plan.
We’re as honest and open as possible about our prices. We do our best to keep them low and stable, but sometimes wholesale market energy prices change so much that we have to change our prices too. We might also have to change our prices because of changes in the law or because some of our other costs have gone up.
When we change our prices, we do our best to make sure you hear about it by updating our website."

Although it first says "increased" it then goes on to state that there is a 10.6% decrease in headline prices due to a decrease in the wholesale commodity prices. I haven't seen this reflected in the prices yet. Does anyone know more?
icon

Best answer by Nancy_OVO 15 November 2018, 12:06

Hi @whiskerp,

I believe this is a typo and I have flagged it to the appropriate team. Thanks for raising this with us. The unit rates on our Better Energy and 2-Year plans were reduced on Tuesday, reflecting a reduction in wholesale prices.

Thanks
View original

2 replies

Ovo confirmed this. For my usage the comparison with the September 2018 tariff is:

2-year fixed reduced from £156 to £136 per month
1-year Better Energy down from £153 to £140 per month.

For comparison, my tariff from last November is £121 per month (Better Energy)

Glad I waited to renew!
Userlevel 6
Badge
Hi @whiskerp,

I believe this is a typo and I have flagged it to the appropriate team. Thanks for raising this with us. The unit rates on our Better Energy and 2-Year plans were reduced on Tuesday, reflecting a reduction in wholesale prices.

Thanks

Reply