Updated on 23/04/24 by Emmanuelle_OVO:
Hey @newjerseyminx,
Welcome to the OVO Online Community.
That’s a really great question on pricing! I've been able to dig up some information that someone from our pricing team shared;
“Our ability to hedge our future energy needs and the significant and positive steps by the Government and the regulator to create more certainty for customers and for companies means OVO can continue to support out customers.
With the cost of living and energy crisis continuing, we all knew this was going to be incredibly difficult for us and our customers, which is why the government delivered support and why OVO have put in place a customer support package.
The government support, the Energy Price Guarantee and the Energy Bills Support Scheme, has relieved the pressure on customers and energy firms. It has been designed to partly shield households from energy prices by limiting the price per unit that energy suppliers can charge customers, with the government making up the difference.”
Although OVO has been able to purchase energy in advance, these are unprecedented times for the energy market and OVO are affected by the rising costs of wholesale energy, which are predicted to continue rising. But due to the reasons above we will be able to continue to support our customers.
Hope this helps.
