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Which usage figures to use when comparing?

  • 12 April 2018
  • 6 replies
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H
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I wish to compare my current OVO costs with another supplier - but not sure which figures to enter on the 'Actual Usage' section of the competitors quotation page - so I can get a like for like comparison.

I can use get the Total Usage for the past 12 months from the Usage section i.e. https://paym.ovoenergy.com/usage

But the above Total usage figures are much lower than the 'Assumed annual consumption' consumption figures show on my latest statement.

And how does the 'Assumed annual consumption' relate to the 'we think your electricity/gas will cost you £xxx.xx* for the next 12 months - this is called your personal projection.'

Is the 'Assumed annual consumption' using the same usage figures as the 'We think your electricity/gas will cost...' projection?
Confused...

Thanks in advance for any replies...
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Best answer by Transparent 12 April 2018, 14:46

Hi @harry66,

The figures you require for online comparisons are at the top of Page-2 of your OVO Statements. You need to use the line(s) starting Assumed Annual Consumption, followed by the value in kWh.

The calculation to generate these figures is stipulated by Ofgem in order to provide a basis for fair comparisons to be made. They are derived using different formulae to those used internally by OVOfor Usage Predictions, and that employed to calculate direct-debit amounts.
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Transparent
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Hi @harry66,

The figures you require for online comparisons are at the top of Page-2 of your OVO Statements. You need to use the line(s) starting Assumed Annual Consumption, followed by the value in kWh.

The calculation to generate these figures is stipulated by Ofgem in order to provide a basis for fair comparisons to be made. They are derived using different formulae to those used internally by OVOfor Usage Predictions, and that employed to calculate direct-debit amounts.
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H
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Ok, so I guess the 'we think your energy will cost £x amount' is actually based on Assumed Annual Consumption then - and not actual total usage for the past 12 months.

Weird - I would have thought the assume annual consumption figure would be based on the actual usage...

No wonder people get confused by the all the different figures thrown at them...

Thanks.
J
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There are many other providers that will cost lesser. You can compare energy online and find the best suitable package for your needs.
Pierssy
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Basically I did a comparison using details from our last bill and I was shocked to see how much they were saying we could save, in fact I a sceptical because OVO have been coming top or placed high in good value suppliers for ages. Does anyone think U switch might be pulling a fast one or over egging their comparisons?
Nancy_OVO
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Hi @Pierssy - I've moved your topic over here where you can find more info about what figures to use when comparing suppliers.

It's worth mentioning that what we cost compared to other suppliers will come down to the unit rates - what you pay per KWh of gas and electricity. You can find your rates on your 'profile' on your online account. Use these for an accurate price comparison.

Thanks,
Nancy
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Slinky
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@Nancy_OVO 

You make a good point, I would never do a comparison based on assumed annual consumption alone. I found the easiest way by far is to compare unit rates for each fuel type making sure VAT is included and also comparing the daily standing charges (important)

It’s easy to work out annual consumption from our bills, just add up the number of units used for each fuel type over 12 months. The number of units used each month is shown on top right of page 2 of the bill.

 

 

 

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