New Gas & Electric Co. "OVO Energy"

Consumerist

Ovo was a no-brainer for me. Comparison sites estimated a £300 pa saving. Did my own calcs and got the same result.:j

The fixed-price tariff isn't going to lose me any sleep. The £300 by next Christmas might, though.

I reckon that gas prices are unlikely to go down generally over the next year as the rest of the world creeps out of recession and increases demand for oil. Gas prices seem to be tied to the shirt-tails of the oil price and I don't reckon on that going down much over next year.

Expected switching date: 30 December - can't wait.

Merry Christmas to all.:beer:
.

Cal_Culater

I'm in the Manweb area and currently with Atlantic Online, no standing charge. £1033 for 17000/3800 kWh of gas/electricity respectively after the 13th month cashback (which I've waited for before switching).

The quote from OVO is £899, then I get a £34 cashback from Energylinx on top. A no-brainer. British Gas are slightly less but I would never ever go back to them in a month of Sundays.

My only concern, having been with Zest4 a few years ago when it went bust owing me £30, is with the financial viability of a new outfit. But Zest4 were never allowed to advertise by OFGEM, nor to appear on comparison sites. I have concluded that because OVO do apear in comparisons they are likely to build up a customer base much more quickly than Zest4 were able to. (Incidentally I had saved more than the £30 I lost at the time because of Zest4's low prices during the time I was with them)

I rang OVO and they explained that once I commit to a 12 month contract, they buy the gas/electricity in the market now, for that duration. I think that the big companies are probably trapped in prices that they paid 12-24 months ago.

Unfortunately I'm not allowed to post links, but if you go to stockcharts.com and use the symbol $NATGAS:$XBP you will see a chart of the futures price of natural gas in £. Select a 3 year range and uncheck log scale and update it. You will then see how new entrants to the market can offer cheaper prices.

You can also wonder why domestic prices aren't even cheaper still, given that the natural gas price is now only 40%, and has recently been as low as 25%, of what it was at the peak when all the domestic prices went up so much. I'm afraid we are still being ripped off people!

Hope my rant helps everyone

george1939

Cal_Culater wrote: »

I'm in the Manweb area and currently with Atlantic Online, no standing charge. £1033 for 17000/3800 kWh of gas/electricity respectively after the 13th month cashback (which I've waited for before switching).

The quote from OVO is £899, then I get a £34 cashback from Energylinx on top. A no-brainer. British Gas are slightly less but I would never ever go back to them in a month of Sundays.

My only concern, having been with Zest4 a few years ago when it went bust owing me £30, is with the financial viability of a new outfit. But Zest4 were never allowed to advertise by OFGEM, nor to appear on comparison sites. I have concluded that because OVO do apear in comparisons they are likely to build up a customer base much more quickly than Zest4 were able to. (Incidentally I had saved more than the £30 I lost at the time because of Zest4's low prices during the time I was with them)

I rang OVO and they explained that once I commit to a 12 month contract, they buy the gas/electricity in the market now, for that duration. I think that the big companies are probably trapped in prices that they paid 12-24 months ago.

Unfortunately I'm not allowed to post links, but if you go to stockcharts.com and use the symbol $NATGAS:$XBP you will see a chart of the futures price of natural gas in £. Select a 3 year range and uncheck log scale and update it. You will then see how new entrants to the market can offer cheaper prices.

You can also wonder why domestic prices aren't even cheaper still, given that the natural gas price is now only 40%, and has recently been as low as 25%, of what it was at the peak when all the domestic prices went up so much. I'm afraid we are still being ripped off people!

Hope my rant helps everyone[/QUOTE

Breaking down your figures give £1033 - your £86 credit back from Atlantic shows a saving of £1003-£86 =£947 -£899 = [£48] +

Energy linx cash back £34 = Total £82 [better off for you is this correct?]

Carly_hulme

TonyHoyle wrote: »

I signed up with these as they worked out as the cheapest tarifs (and wanted a smaller company as EDF had managed to F.. up migration to them 3 times in succession, so I gave up on them).

Now they tell me they're going to take out £234 a month from my direct debit! That's an *insane* amount. And they won't review the amount until next april. I queried it and they told me that was correct :eek::eek::eek:

Given that on the 'standard' tariff I'm on Eon I'm only paying £70 a month (and that covers winter too) it means they're trying to build up credit of over £1000 before they even considering reviewing it (more like £1500 once the lower tariffs are taken into account).

Just a warning. If you're going with them *check your emails*.

I've told them I'll cancel unless they set it to something more reasonable.. luckily they aren't my provider yet and I caught it early enough. I can't think of a legitimate reason why a company would want to take that much money off their customers upfront.

Tony- I work for an electricity company and i can assure you that this would not be standard practice! in all honesty if you have just joined a new company they will only have minimal information to go on to set up your direct debit...such as average cons information, how many bedrooms are in your property and how its heated...
the only REAL way to see what your DD should be is to have actual consumption history...i.e for you to be with them for a while!! then they will be able to see a whole years worth of cons and work out an average monthly cost over the year! i would advise you to keep an eye on statements though as you could get in to debit/credit and the DDs normally reviewed say after 12 months of payment, if you arent paying enough this could really mess you up after that period if you need it increased...but could be a pleasent surprise if you have been paying too much!
x

t0rt0ise

Well my date for being supplied by Ovo was today but they haven't asked for meter readings and I'm a little concerned that British Gas with whom I have elec with haven't contacted me about leaving. Atlantic with whom I have gas with have so that part was obviously progressing.

Has anyone who was changing to Ovo got any news?

george1939

Cal_Culater wrote: »

I'm in the Manweb area and currently with Atlantic Online, no standing charge. £1033 for 17000/3800 kWh of gas/electricity respectively after the 13th month cashback (which I've waited for before switching).

The quote from OVO is £899, then I get a £34 cashback from Energylinx on top. A no-brainer. British Gas are slightly less but I would never ever go back to them in a month of Sundays.

My only concern, having been with Zest4 a few years ago when it went bust owing me £30, is with the financial viability of a new outfit. But Zest4 were never allowed to advertise by OFGEM, nor to appear on comparison sites. I have concluded that because OVO do apear in comparisons they are likely to build up a customer base much more quickly than Zest4 were able to. (Incidentally I had saved more than the £30 I lost at the time because of Zest4's low prices during the time I was with them)

I rang OVO and they explained that once I commit to a 12 month contract, they buy the gas/electricity in the market now, for that duration. I think that the big companies are probably trapped in prices that they paid 12-24 months ago.

Unfortunately I'm not allowed to post links, but if you go to stockcharts.com and use the symbol $NATGAS:$XBP you will see a chart of the futures price of natural gas in £. Select a 3 year range and uncheck log scale and update it. You will then see how new entrants to the market can offer cheaper prices.

You can also wonder why domestic prices aren't even cheaper still, given that the natural gas price is now only 40%, and has recently been as low as 25%, of what it was at the peak when all the domestic prices went up so much. I'm afraid we are still being ripped off people!

Hope my rant helps everyone

Your 17000kw gas 3800kw electricity from atlantic at their FR to '[31st August 2011]' total gives £896.84 less one month cash back of £74.73=£822.11

NO BRAINER ' STAY PUT' WITH ATLANTIC ELECTRIC AND GAS

YOU CANNOT BEAT THEIR FIGURE '£822.11' EVEN WITH THE CASH BACK FROM ENERGYLINX

beany

Not very good at working all this out so please be kind
I only have electric, I have economy 7 and use about 3700Kwh a year, usually between 40% and 50% of this on cheap night rate.
I have Ebico at the moment and think a change of supplier will save me money
problem is British Gas seems cheaper but I have heard so many stories of how terrible they are to deal with so I thought OVO (comparision site says about £30 pa more than BG).
Double checked this morning and Atlantic seem to be offering a good deal (more than BG less than OVO).
Wondered if anyone has advice/experience with BG,OVO,Atlantic, saving £100+ pa would be gr8 but the less hassle the better
thank you

george1939

beany wrote: »

Not very good at working all this out so please be kind
I only have electric, I have economy 7 and use about 3700Kwh a year, usually between 40% and 50% of this on cheap night rate.
I have Ebico at the moment and think a change of supplier will save me money
problem is British Gas seems cheaper but I have heard so many stories of how terrible they are to deal with so I thought OVO (comparision site says about £30 pa more than BG).
Double checked this morning and Atlantic seem to be offering a good deal (more than BG less than OVO).
Wondered if anyone has advice/experience with BG,OVO,Atlantic, saving £100+ pa would be gr8 but the less hassle the better
thank you

'Remember'' say you 'choose' Atlantic at £25 each month=£300 per year
you get back £25 free into your account on the 13th month+ £17 from energy linx site [total cash back £42] 'To me though' a total of 3700kw hr per year seems a too low an amount How do you keep it so low? Remember British gas states 6% fixed below its standard rate until 28th february 2011 this means it could go up or down with its standard rate [not really fixed] Atlantic fixed rate August 2011 [B]stays[/B] at that rate

'I hope the above helps you' [Atlantic have good customer relations]

beany

george1939 wrote: »

'Remember'' say you 'choose' Atlantic at £25 each month=£300 per year
you get back £25 free into your account on the 13th month+ £17 from energy linx site [total cash back £42] 'To me though' a total of 3700kw hr per year seems a too low an amount How do you keep it so low? Remember British gas states 6% fixed below its standard rate until 28th february 2011 this means it could go up or down with its standard rate [not really fixed] Atlantic fixed rate August 2011 [B]stays[/B] at that rate

'I hope the above helps you' [Atlantic have good customer relations]

Thankyou george 1939
I don't know how I keep it so low, very careful, is all I can say.
I read my meter every month so I know what I'm using.
I pay EbiCo £34 per month at the moment
I hadn't thought about cash back, £42 that makes quite a difference, 6 to 7 weeks free.
Think Atlantic is they way to go.... thanks again

george1939

beany wrote: »

Thankyou george 1939
I don't know how I keep it so low, very careful, is all I can say.
I read my meter every month so I know what I'm using.
I pay EbiCo £34 per month at the moment
I hadn't thought about cash back, £42 that makes quite a difference, 6 to 7 weeks free.
Think Atlantic is they way to go.... thanks again

Thankyou beany