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.
March 2023- Where to find Fixed Plans
Best answer by Corgimajor
Updated on 21/09/23 by Abby_OVO
Hi
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
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