I think I may have done something a bit silly. Me and my partner are renting a new flat and got a letter through the post from Octopus (who I assume were the previous tenant's electric company) titled 'To the new occupier.' I clicked on the link and put in the code on the letter and it came up with a price of £268 per month as the cheapest price, on a fixed price contract.
Thinking that was too much, I looked at OVO's prices and found one for £153 per month as a fixed price contract so signed up to that instead. However, the cost per unit of electricity is higher than the price cap, although the standing charge is the same. From my understanding, instead of signing up with the fixed price Octopus tariff, I should have just let them keep sending letters through the post, which would have been calculated at the price cap. The letter from Octopus wasn't very clear and made it seem like you had to sign up to a fixed price tariff but I likely should have researched it more.
We're still well within the 14 day cooling off period for OVO so I would like to cancel and revert back to the price cap with Octopus, but I'm not sure this is possible.
Can anyone advise please? If I cancel with OVO will it just go back to the Octopus price cap cost with them sending a bill each month, instead of signing up to the fixed price contract? I believe the switchover date is May 19th. Thanks in advance, I know I've been silly here.
Best answer by Jess_OVOView original