Opinions on this switch deal I've been offered

Hi ​@Damo ,

Unfortunately, questions of this type tend to get buried pretty fast and rarely get answers. This is nothing against you personally - it’s just how the OVO Forum tends to work in that folks don’t ask this type of question very often.

As a high user, Unit Rates are more important. HOWEVER, do not switch purely on price alone…

You must do your research into the supplier - stuff like reputation, customer service, will they survive another 10 years… That sort of thing.

Only make the leap if you’re absolutely certain about it.

It also depends on any tech you might have like solar panels, battery or EV. That can vastly complicate any assessment of what is the best tariff and a major factor is how much electricity you use and when you use it.

In a very simple situation with no tech at all and being a high user it is probably best to have a go with a comparison site to see if they suggest anything you weren’t expecting and have a look at that as well as a possibility. What suits your neighbour or a friend may not be suitable for you and your particular circumstances. At least it will give you a comparison to what is being offered.

As ​@Blastoise186 has already said it also depends on other important factors like how good their customer service is and do they have a stable company. A recent case is where a company were offering incredibly good rates but, according to my information, they have been put into the hands of administrators and if they go down their customers will end up going to a SOLR (supplier of last resort) if they cease trading.

There are also exit fees to consider if it doesn’t work out. Some suppliers don’t have any. Your type of meter (Non-smart/SMETS1/SMETS2) is also important as you can sometimes get better rates with half hourly readings. DD payments are often yield lower rates. Some companies are better at handling DD rates and for handing back refunds if you accumulate too much credit. Check that the collective is behaving in a friendly manner and that you have the freedom to exit. Sometimes collectives buy energy in advance and might charge an exit fee to cover the energy bought.

I did look at a collective in the past for solar panels but I found their conditions were too restrictive and their predicted returns were significantly too optimistic so I decided not to go with them.

Peter

Just as another example - Ripple Energy…

A few years ago, folks on the OVO Forum were demanding that OVO sign up as a partner and were upset that OVO only did an “experimental” sign up page that didn’t actually do anything. And they were threatening to switch away from OVO if OVO didn’t meet their demands IIRC. If memory serves, OVO did comment on it saying they were keeping an eye on Ripple but hadn’t made a decision and ultimately the partnership never happened.

Fast forward four years and… Well… I’ll let the sources do the talking…

https://find-and-update.company-information.service.gov.uk/company/10565718

https://www.begbies-traynorgroup.com/ripple-energy-limited

https://uk.trustpilot.com/review/www.rippleenergy.com

The wind farms that Ripple did build are still operating under new owners, but it looks like the ones that didn’t get started are unlikely to ever be built.

Be warned that some things are too good to be true…It’s just one example where OVO wisely pulled the plug without being exposed to any risk…

This is the risk you’re taking with what I think you’re planning to do. Please use caution.