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T
Rank 1
Tracyp
Rank 1
March 28, 2023
Solved

March 2023- Where to find Fixed Plans

  • March 28, 2023
  • 15 replies
  • 628 views

Martin Lewis has said Ovo are offering fixed price plans to existing customers.  Am i the only one who doesnt have this offer? With my monthly direct debit now hitting £414 Ovo won't want to fix mine!   I used to pay £150  and had a  decent cash pot returned to me at the end of the annual term.

Best answer by Corgimajor

Updated on 21/09/23 by Abby_OVO

Hi @Tracyp, if you log in to your Ovo account online (not sure the offer can be seen on the App) then under the menu options you should see "Renew your plan" (see screen shot at bottom of this post). 

You should find under this option the 1 year fix Ovo are offering.  If you are currently on OVOs Simpler Energy variable plan (which a lot of us are) then there will be a small saving IF - and this is the important consideration - you believe domestic energy prices are going to stay at levels similar to the current Energy Price Guarantee levels after 1st July.  Martin Lewis, in his commentary on the OVO fixed price offer, says you need to be cautious about jumping onto any fixed price deal just because it looks a bit cheaper now.  However he also includes the usual caveats about risks of trying to predict future energy prices.

https://www.moneysavingexpert.com/news/2023/03/ovo-fixed-deal-after-months-with-no-deals/

 

Ultimately staying on a variable price vs. fixing your price comes down to personal choice and how you like to budget.  Fixed price contracts do come with some  constraints however - you have to be on DD (unlike variable price agreements where you can choose to pay on demand  - with a higher tariff), you have to hold a higher credit balance before getting access to credit balance refunds (2 or 3 months instead of zero months on variable) and you will be charged a fee if you want to leave the contract (£75 for each fuel fixed - so £150 if its a dual fuel fixed price contract).

NB. judging by what you are being asked to pay on DD now, it sounds like you either have a forecast high energy demand for next 12 months or you have a reasonably large debit balance you are being asked to pay down - or a bit of both.  I wouldn't have thought this would stop you applying for a fixed price offer, but best to check with OVO support on this. 

Re the fixed price offer, personally I'm going to wait until July to see what is happening with UK domestic energy prices (evidence in the market and general consensus is that they will be lower than the Energy Price Guarantee level) and if the market becomes more competitive, I may chose to move to another supplier, which,  as I'll be on OVOs Simpler Energy agreement, will cost me nothing to do.

Here's the menu choices on your online OVO account where you should find their 1 year fixed price offer.

We recently brought our Fixed Plans back onto the market for everyone! You can view all of our available plans here: https://www.ovoenergy.com/home-energy-plans

15 replies

C
Rank 6
CorgimajorSolved
Rank 6
March 29, 2023

Updated on 21/09/23 by Abby_OVO

Hi @Tracyp, if you log in to your Ovo account online (not sure the offer can be seen on the App) then under the menu options you should see "Renew your plan" (see screen shot at bottom of this post). 

You should find under this option the 1 year fix Ovo are offering.  If you are currently on OVOs Simpler Energy variable plan (which a lot of us are) then there will be a small saving IF - and this is the important consideration - you believe domestic energy prices are going to stay at levels similar to the current Energy Price Guarantee levels after 1st July.  Martin Lewis, in his commentary on the OVO fixed price offer, says you need to be cautious about jumping onto any fixed price deal just because it looks a bit cheaper now.  However he also includes the usual caveats about risks of trying to predict future energy prices.

https://www.moneysavingexpert.com/news/2023/03/ovo-fixed-deal-after-months-with-no-deals/

 

Ultimately staying on a variable price vs. fixing your price comes down to personal choice and how you like to budget.  Fixed price contracts do come with some  constraints however - you have to be on DD (unlike variable price agreements where you can choose to pay on demand  - with a higher tariff), you have to hold a higher credit balance before getting access to credit balance refunds (2 or 3 months instead of zero months on variable) and you will be charged a fee if you want to leave the contract (£75 for each fuel fixed - so £150 if its a dual fuel fixed price contract).

NB. judging by what you are being asked to pay on DD now, it sounds like you either have a forecast high energy demand for next 12 months or you have a reasonably large debit balance you are being asked to pay down - or a bit of both.  I wouldn't have thought this would stop you applying for a fixed price offer, but best to check with OVO support on this. 

Re the fixed price offer, personally I'm going to wait until July to see what is happening with UK domestic energy prices (evidence in the market and general consensus is that they will be lower than the Energy Price Guarantee level) and if the market becomes more competitive, I may chose to move to another supplier, which,  as I'll be on OVOs Simpler Energy agreement, will cost me nothing to do.

Here's the menu choices on your online OVO account where you should find their 1 year fixed price offer.

We recently brought our Fixed Plans back onto the market for everyone! You can view all of our available plans here: https://www.ovoenergy.com/home-energy-plans

    T
    Rank 1
    TracypAuthor
    Rank 1
    March 29, 2023

    Many thanks for taking the time to reply..  I did check my account online (and on my mobile)  and used the screenshot you shared to try to find it, however it does appear that I don't have a renew plan option, unless it is hiding somewhere else!  This is what I see: 

     

    C
    Rank 6
    Corgimajor
    Rank 6
    March 29, 2023

    Hi @Tracyp, hmm, I knew the offer was open only to existing OVO customers, so the fact that you are an existing customer and cannot see the offer suggests there are more conditions than simply just being an OVO customer. 

    Looking at OVOs general terms and conditions (see cutting below) they do vary eligibility criteria on their energy plans, but I can't see any specific ones on the offer for the 1 year fixed term deal in my offers.  I have a smart meter, but that's nothing unusual nowadays and I've been with OVO for a few years, but again nothing unusual.  I think if you are still interested in being offered this deal and wondering why you aren't seeing it, then you'll have to contact OVO support - or perhaps someone else on the forum may be able to help. 

     

      T
      Rank 1
      TracypAuthor
      Rank 1
      March 29, 2023

      thanks for this -  i do pay by direct debit but don’t have a smart meter - maybe that is the reason.  Will contact Ovo to ask,  Thanks again!

        C
        Rank 6
        Corgimajor
        Rank 6
        March 29, 2023

        Hi @Tracyp, OK, yes, most likely due to lack of smart meter,  if you contact them you should ask if you qualify for installation of a smart meter or your circumstances will permit it.  They are helpful for managing your usage and can  make billing a lot simpler.  Good luck!

          T
          Rank 1
          TracypAuthor
          Rank 1
          March 29, 2023

          I don't like the idea of a smart meter and have resisted so far.    I will just wait to see if the energy prices do drop in summer.  Thanks again for your help - really appreciate it!

          Firedog
          Super User
          FiredogSuper User
          Super User
          March 29, 2023

          Smart meters come with a lot of benefits and few disadvantages, so you might consider relaxing your opposition a bit. Should you decide that having one might in fact be to your advantage, you should know that there is at present a long waiting list, so you couldn’t just ring up in July when better offers come along and expect to have a new meter there and then. Some people have been waiting months.

          If you booked one now, you could always unbook again - without penalty if you give plenty of notice , I think - if you decided against it later.

          OVO energy - Smart Bookings 

          Noel | I have no official status; I'm just a volunteer who comes here to help other customers. My gear: Aclara SGM 1416-B Electricity-only E7 meter; Chameleon IHD3-PPMID-AAA | It may look as if I know what I’m talking about, but don’t let that fool you. |
            L
            Newcomer
            lynsgarden
            Newcomer
            March 30, 2023

            I don’t have a smart meter , or want one, and I have a ‘renew your plan’ link available. I pay by direct debit.

            Tim_OVO
            OVO Staff
            Tim_OVO
            OVO Forum Legend
            March 30, 2023

            @Tracyp what is your current plan, shown here under the big ‘Electricity’ title: https://account.ovoenergy.com/plan 

             

            @Corgimajor top quality advice! 😎

            Carbon neutral - we need a community to get there! My green tech: Aclara SGM 1411-B smart meter, Chameleon IHD6
            L
            Rank 2
            LizzyFrostie
            Rank 2
            April 15, 2023

            Hi there

            I received an OVO email yesterday informing me it would be cheaper for me to move from my current variable tariff (Simpler Energy) to a fixed one. Is there a deadline when I must make a decision about whether to switch?

             

            Thanks

            Show more replies
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