Two things I have discovered recently

  • 9 September 2019
  • 2 replies
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  1. OVO recommends a two-year fixed price deal that is 20%+ more that the two year deal ending this September. This suggests that OVO places a steep premium on its excellent service.
  2. Smart meter tells me that the standing charge was the most expensive part of my old deal. Perhaps smart meter users can expect a lower monthly standing charge as well as preferential energy tariffs?

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Hi @Solarpayz

Thought I might be able to jump in here and offer some help.

The new unit rates and standing charges you can see online will be reflective of current wholesale costs. The plan you started 2 years ago will have had fixed rates depending on wholesale costs at the time. We've had to increase the costs on most of our plans due to the overall upwards trend of gas and electricity costs.

Standing charges are generally more expensive than unit rates, that's right. It's important to remember that you'll only pay your standing charge 365 times a year, whereas in a year you could use thousands of units of electricity, and often tens of thousands of units of gas.

Let me know if you have any more questions!
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Thank you Nancy.

I wondered why you provided no evidence of the price trends:

Here is gas:

https://www.ofgem.gov.uk/data-portal/wholesale-market-indicators

I available have a screenshot for Electricity, that also indicates a downward trend.

I look forward to seeing your evidence to support your claim.

Many thanks,

Solarpayz

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