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If I cancel my contract with OVO early and switch, what happens to the smart meter they installed?

  • 27 October 2020
  • 7 replies
  • 124 views

Userlevel 2

If I cancel my contract with OVO early with OVO what happens to the smart meter they installed D Higgs.

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Best answer by Transparent 27 October 2020, 14:12

So it’s almost certainly the case that yours is a SMETS2 meter@Derek Higgs. OVO ceased to get credits for installing the earlier SMETS1 meters on 16th March 2019. As yours is connected to the National Smart Meter Network, you can freely move between Energy Suppliers, all of which will be able to acquire your meter readings.

You can renew a contract or take out a different one without any financial penalty (exit fee) within 54 days of the end of your current contract. And you can ‘upgrade’ your tariff from 1 year ‘Better’ to a 2 year fix without fees either!

 

Please ask again here if you’d like any more clarification.

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7 replies

Userlevel 7
Badge +1

Hi @Derek Higgs and Good morning

Depending on which smart meter was installed. When you move to a different energy provider it could be a dummy meter meaning you will need to provide the meter readings every month (SMETS1) or if its fairly recent the new energy supplier should be able to see the readings and you do nothing (SMETS2)

Userlevel 2

Thank you kindly for that.I am not finishing with OVO .My meter was installed 14 moths ago. When the bonus is finished in Dec can I ring up without being punished so to speak.Thank you for your help.

Userlevel 7
Badge +2

So it’s almost certainly the case that yours is a SMETS2 meter@Derek Higgs. OVO ceased to get credits for installing the earlier SMETS1 meters on 16th March 2019. As yours is connected to the National Smart Meter Network, you can freely move between Energy Suppliers, all of which will be able to acquire your meter readings.

You can renew a contract or take out a different one without any financial penalty (exit fee) within 54 days of the end of your current contract. And you can ‘upgrade’ your tariff from 1 year ‘Better’ to a 2 year fix without fees either!

 

Please ask again here if you’d like any more clarification.

Userlevel 2

Thankyou your reply is very informative ,If I ring up for information do I lose any money at all do to the call.

Userlevel 2

Thankyou your reply is very informative ,If I ring up for information do I lose any money at all do to the call.

 

Userlevel 7
Badge +2

I would strongly suggest using the online page to renew your contract (assuming you decide to remain with OVO). This gives you the tariff on-screen and subsequently sends you an email which confirms the rates in writing. That’s heaps better than relying on notes you take from a telephone call.

Hint: When I renewed last year, I actually used the OVO online page several times over the course of a fortnight, but without actually accepting the quotation. I was glad I did; the tariff fell substantially and I was able to accept the lower rate. Once again, I couldn’t have checked this if I’d tried phoning.

Even if you do accept a new contract during the 54-day period, but then discover that it gets reduced the next week, you do not have to stick with the rates which you accepted. Under the Financial Services Act you have 14-day “cooling off period” during which you can withdraw from the contract.

Userlevel 7

Top advice here, I will re-mark the best answer so it helps others. 

 

Thankyou your reply is very informative ,If I ring up for information do I lose any money at all do to the call.

 

FYI @Derek Higgs now that the Self Service Reward has been ended moving forwards, you can contact our Support teams without risk of losing any discount. Still as @Transparent mentions, self serving actions on your online account, and getting community based answers here is all you need for the most part. 

 

Don’t forget you can contribute here as well, and help others like you. What’s the verdict re switching tariff? 

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