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Best answer by Blastoise186

Updated on 14/12/23 by Tim_OVO:

Ofgem’s energy price cap limits what you pay for gas or electricity on a variable rate plan. You can see the latest information regarding the price cap levels and date changes on the Ofgem site here.

 

The way energy suppliers set prices is impacted by:

 

The price cap – set by Ofgem, the energy regulator. This limits the amount customers on variable rate plans will pay for each unit of gas and electricity and sets a maximum standing charge.

 

The Energy Price Guarantee – provided by the government to help households with energy costs during the energy crisis. It’s a discount on gas and electricity prices and is in addition to the price cap. It applies to both variable and fixed rate plans. If the Energy Price Guarantee (EPG) is above the level of the price cap, it won’t impact prices for anyone who pays monthly. 

 

What this means if you pay monthly for your energy

 

If you're on a variable rate plan, your unit rate and standing charge will change on 1st January, April, July and October, in line with the new price cap. We’ll write to you to let you know if this impacts you personally. Your actual bills will still depend on how much energy your home uses.

 

If you're on a fixed rate plan, the price cap doesn't affect prices for fixed-rate plans. We're keeping your prices as they are for the length of your contract to protect you from any price increases.

 

What this means if you Pay As You Go for your energy

 

All Pay As You Go prices are variable – these will change with the new price cap on 1st January, April, July and October.

 

Now's the time to send a meter reading

 

This will make sure your energy account is up to date. You can submit a meter reading now on your online account or through our app. If you’ve got a smart meter, you don’t need to send a reading. The smart meter will send this for you.

 

Priority Services Register

 

Need extra support? We can offer free help if you’re ill, have a disability or have a medical condition via our Priority Services Register.

 

Support available for customers who may be struggling with their bills

 

Here’s how you can apply for our Customer support package. 

Here’s our guide on debt and energy assistance.

 

Citizens Advice: Visit your local branch, or their websites: for England and Wales and for Scotland. You can speak to an adviser online, in person, or over the phone: 0800 144 8848 (England), 0800 702 2020 (Wales), and 0800 028 1456 (Scotland). 

 

National Debtline: Call 0808 808 4000 or visit their website.

 

Step Change Debt Charity: Call 0800 138 1111 or visit their website.

 

Have any questions about the price cap? See our Price Cap FAQs here.

 

29 replies

Blastoise186
Super User
Blastoise186Super User
Super User
July 25, 2022

I’m afraid we can’t tell you that @Mogwa . Your best bet is to contact the Support Team as they’ll be able to check the prices for your area.

Securing energy by zapping security bugs... For that is The Blastoise Way! Remember, I'm just like you - AI Powered Evil Geniuses aren't Staff!
    M
    Rank 1
    MogwaAuthor
    Rank 1
    July 25, 2022

    Thanks I'll certainly do that as they've used the fact that I'm a new customer to up the price !!

    Blastoise186
    Super User
    Blastoise186Super UserSolved
    Super User
    July 25, 2022

    Updated on 14/12/23 by Tim_OVO:

    Ofgem’s energy price cap limits what you pay for gas or electricity on a variable rate plan. You can see the latest information regarding the price cap levels and date changes on the Ofgem site here.

     

    The way energy suppliers set prices is impacted by:

     

    The price cap – set by Ofgem, the energy regulator. This limits the amount customers on variable rate plans will pay for each unit of gas and electricity and sets a maximum standing charge.

     

    The Energy Price Guarantee – provided by the government to help households with energy costs during the energy crisis. It’s a discount on gas and electricity prices and is in addition to the price cap. It applies to both variable and fixed rate plans. If the Energy Price Guarantee (EPG) is above the level of the price cap, it won’t impact prices for anyone who pays monthly. 

     

    What this means if you pay monthly for your energy

     

    If you're on a variable rate plan, your unit rate and standing charge will change on 1st January, April, July and October, in line with the new price cap. We’ll write to you to let you know if this impacts you personally. Your actual bills will still depend on how much energy your home uses.

     

    If you're on a fixed rate plan, the price cap doesn't affect prices for fixed-rate plans. We're keeping your prices as they are for the length of your contract to protect you from any price increases.

     

    What this means if you Pay As You Go for your energy

     

    All Pay As You Go prices are variable – these will change with the new price cap on 1st January, April, July and October.

     

    Now's the time to send a meter reading

     

    This will make sure your energy account is up to date. You can submit a meter reading now on your online account or through our app. If you’ve got a smart meter, you don’t need to send a reading. The smart meter will send this for you.

     

    Priority Services Register

     

    Need extra support? We can offer free help if you’re ill, have a disability or have a medical condition via our Priority Services Register.

     

    Support available for customers who may be struggling with their bills

     

    Here’s how you can apply for our Customer support package. 

    Here’s our guide on debt and energy assistance.

     

    Citizens Advice: Visit your local branch, or their websites: for England and Wales and for Scotland. You can speak to an adviser online, in person, or over the phone: 0800 144 8848 (England), 0800 702 2020 (Wales), and 0800 028 1456 (Scotland). 

     

    National Debtline: Call 0808 808 4000 or visit their website.

     

    Step Change Debt Charity: Call 0800 138 1111 or visit their website.

     

    Have any questions about the price cap? See our Price Cap FAQs here.

     

    Securing energy by zapping security bugs... For that is The Blastoise Way! Remember, I'm just like you - AI Powered Evil Geniuses aren't Staff!
      B
      Newcomer
      Biggles
      Newcomer
      November 8, 2022

      This is not an answer to my question.

      The support team show no concern or interest in helping to get correct tariff.

      I have bee offered 3 different tariffs for the same simple energy variable scheme.

      juliamc
      Rank 20
      juliamc
      Rank 20
      November 8, 2022

      Hi @Biggles this thread is from July - when Boris was still PM and before the EPG was devised !! Even the update of 28th August is out of date. 
      ** update ** now updated as of 9th nov 2023

      B
      Newcomer
      Biggles
      Newcomer
      November 9, 2022

      Thank you but it does not answer my question.

      Why have OVO offered me 3 differnt tariffs in the last week all exceeding the OfGen Tariff cap of 34p per kWh and 45p per day.

      Jeffus
      Rank 20
      Jeffus
      Rank 20
      November 9, 2022

      Thank you but it does not answer my question.

      Why have OVO offered me 3 differnt tariffs in the last week all exceeding the OfGen Tariff cap of 34p per kWh and 45p per day.

      Hi

      Given no one on this forum has access to your account we will have no way of answering that question.

      You can sometimes check here to see what new customers would get charged for your property. Depending on your setup

      https://www.ovoenergy.com/home-energy-plans

      No one pays 34p per kWh and 45p per day. This is an average across all regions. Every region has a slightly different rate. 

      Are you an ovo customer? Are you an Economy 7 user? 

       

      Tim_OVO
      OVO Staff
      Tim_OVO
      OVO Forum Legend
      November 9, 2022

      This thread is from July - when Boris was still PM and before the EPG was devised !! Even the update of 28th August is out of date. 

       

      Good point, Julia! On the 7th I thought I found every single price cap related topic and updated the ‘best answer’. Somehow this one slipped the net. Updated now. 

       

      @Biggles I can’t say for sure why (or where) you’ve seen different price options. As the ‘best answer’ now advises, we will send you an email about your best option. It can be complicated to work out from the outside but OVO are basically doing everything to make sure our customers get the best deal and all the flexibility to change.

       

      For example if you were on a fixed plan but moved to the variable, you can still go back to the fixed plan if there’s more than 6 weeks left. If you stayed on fixed but now want variable, you can do that as well. Lastly, we are offering new fixed plans so bear in mind those will be on show when browsing available fixed plans. 

       

      Hope this helps. 

      Carbon neutral - we need a community to get there! My green tech: Aclara SGM 1411-B smart meter, Chameleon IHD6
        B
        Newcomer
        Biggles
        Newcomer
        November 9, 2022

        I have been advised that the OfGen price cap applies to gas and Electricity  and is a cap noot and average for suppliers to pick and choose what tariffs the charge their customers.

        That defined cap for Electricity is 34.0p per kWh and 45.0p per day. Of course suppliers can charge less and the customers annual usage my result in their annaul bill being higher that the reported average £2500

        However OVO have advised me of tariffs that range between 32p and 35p per kWh and 45p and 53p per kWh with one agent even claiming VAT was extra. All were the same rate on the simple Variable Tariff. How can OVO offer different prices and discriminate between customers for an identical tariff? It is not justified.

        Hence I am waiting for OVO to clarify their rates for the simple variable tariff and why I have been advised the new rate should I renew will be 33.7p per KWh and 52.7p per day +VAT, when the web site rate offers 33.72p per kWh and 49.14p per day  incl VAT? 

        Jeffus
        Rank 20
        Jeffus
        Rank 20
        November 9, 2022

        I have been advised that the OfGen price cap applies to gas and Electricity  and is a cap noot and average for suppliers to pick and choose what tariffs the charge their customers.

        That defined cap for Electricity is 34.0p per kWh and 45.0p per day. Of course suppliers can charge less and the customers annual usage my result in their annaul bill being higher that the reported average £2500

        However OVO have advised me of tariffs that range between 32p and 35p per kWh and 45p and 53p per kWh with one agent even claiming VAT was extra. All were the same rate on the simple Variable Tariff. How can OVO offer different prices and discriminate between customers for an identical tariff? It is not justified.

        Hence I am waiting for OVO to clarify their rates for the simple variable tariff and why I have been advised the new rate should I renew will be 33.7p per KWh and 52.7p per day +VAT, when the web site rate offers 33.72p per kWh and 49.14p per day  incl VAT? 

        In case it helps @Biggles 

        From the government website. 

        https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

        This is a cut and paste from the government website. 

        If you’re on a standard variable tariff

         

        The average unit price for dual fuel customers on standard variable tariffs, subject to Ofgem’s price cap, paying by direct debit will be limited to 34.0p/kWh for electricity and 10.3p/kWh for gas, inclusive of VAT, from 1 October.

        These are average unit prices, the unit rate itself varies by regions and the full list of rates have been passed to suppliers to ensure that they are used to calculate bills in Great Britain from 1 October. See the full list of regional rates.

         

        Standing charges

        Average standing charges for customers on default tariffs will remain capped in line with the levels set (in Great Britain) by Ofgem for the default tariff cap from 1 October, at 46p per day for electricity and 28p per day for gas, for a typical dual fuel customer paying by direct debit. Standing charges for households in Northern Ireland will also be unaffected.

         

        Standing charges have always varied by region even before the Energy Price Guarantee. 

        Show more replies
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