MSE News: Ovo hits back in online energy price war

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This is the discussion thread for the following MSE News Story:

"Energy supplier Ovo has slashed the price of its cheapest tariff by around £50/year ..."

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  • 1carminestocky
    1carminestocky Posts: 5,256 Forumite
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    edited 22 October 2009 at 4:39PM
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    I think MSE should try and get to the bottom of what a couple of new customers have alleged has happened - namely they have been asked for DDs that bear no real relation to what they should be, in fact they are way higher and OVO have refused to reduce them for 6 months? Like I say, these are at the moment just anecdotal but AFAICT no company rep has explained what is happening.

    PS Funnily enough, I think they have launched at the wrong time of year - they will clearly as a start up not want to allow punters to run up a deficit which can then be paid up in the Summer so maybe that's why the DD the afore-mentioned people have mentioned seem extraordinarily high. I would also want to get to know how they actually source their gas and electric, I can't seem to find a definitive statement on their site and how substantial their financial backing is. Anyone? Given the influence of this forum and the fact that they are a seemingly thrusting start-up after acquiring punters I'm amazed there isn't an OVO official presence on here
    Call me Carmine....

    HAVE YOU SEEN QUENTIN'S CASHBACK CARD??
  • Cardew
    Cardew Posts: 29,036 Forumite
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    Going the right way IMO

    Prices fixed for a year and a £60 exit penalty(which will deter switching 'tarts')
  • KimYeovil
    KimYeovil Posts: 6,156 Forumite
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    (Anyone else unable to dispel images of energy miner acrobats dangling on rubber bands in Cirque du Soleil and Professor Branestawn contraptions whenever Ovo is mentioned?)
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
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    edited 22 October 2009 at 7:22PM
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    Wow! Let me get this right. The company has slashed the cost of its energy it supplies to customers by £50/year.

    Even for those who have already switched suppliers, that means savings of £100 /year.

    Why wasn't everyone on them already if they were so cheap? Were £50/year cheaper than the rest, now £100 cheaper than the rest.

    Somehow I don't think that'll apply to everyone though, eh???

    It's a pity the MSE report doesn't give a link to the actual prices, rather than just reiterating the sales blurb from their marketing department.


    Edit: to anyone interested, here is a link to their latest prices

    http://www.ovoenergy.com/ovo_prices_091022.pdf

    But I would suggest yousing a couple of the comparison sites in the resource bar above to decide if they would really give the savings stated.
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
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    edited 22 October 2009 at 7:43PM
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    Well I've just compared their prices for an E7 electric only customer based in the Eastern region.

    Day units: was 10.3711p, now 10.38p (lets give them the benefit of the doubt and say its the same)

    Night units: was 4.725p, now 5.67p an increase of 20%!!!

    Standing charge: £63.00 per year (no change).


    What am I missing here, that's a price increase rather than a £50 saving???
    :confused::confused::confused:

    Edit: Duel fuel only. Great! :rolleyes:
    (I've no idea what their gas price used to be. Anyone have the previous tariff in full?)
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • Chrysalis
    Chrysalis Posts: 4,154 Forumite
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    edited 22 October 2009 at 8:11PM
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    Premier wrote: »
    Wow! Let me get this right. The company has slashed the cost of its energy it supplies to customers by £50/year.

    Even for those who have already switched suppliers, that means savings of £100 /year.

    Why wasn't everyone on them already if they were so cheap? Were £50/year cheaper than the rest, now £100 cheaper than the rest.

    Somehow I don't think that'll apply to everyone though, eh???

    It's a pity the MSE report doesn't give a link to the actual prices, rather than just reiterating the sales blurb from their marketing department.


    Edit: to anyone interested, here is a link to their latest prices

    http://www.ovoenergy.com/ovo_prices_091022.pdf

    But I would suggest yousing a couple of the comparison sites in the resource bar above to decide if they would really give the savings stated.

    thanks for the price list.

    again confusion from these companies, they quoting annual prices/savings etc.

    this company seems different alright.

    they have a high standing fixed month charge, in my region £5.25 a month and then charge low unit prices, so they have higher gaurantueed income.

    <calculation removed as inaccurate>
  • Cardew
    Cardew Posts: 29,036 Forumite
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    Premier wrote: »
    Well I've just compared their prices for an E7 electric only customer based in the Eastern region.

    Day units: was 10.3711p, now 10.38p (lets give them the benefit of the doubt and say its the same)

    Night units: was 4.725p, now 5.67p an increase of 20%!!!

    Standing charge: £63.00 per year (no change).


    What am I missing here, that's a price increase rather than a £50 saving???
    :confused::confused::confused:

    Edit: Duel fuel only. Great! :rolleyes:
    (I've no idea what their gas price used to be. Anyone have the previous tariff in full?)


    On my heavy consumption(Midlands) First Utility are mariginally the most expensive, but OVO are not far behind and are the better proposition IMO. First Utility have a 2 year tie-in and could double their prices tomorrow(their new tariff is not available in the Midlands)

    For Average duel fuel consumption OVO are the cheapest.

    For Elect only OVO are far from the cheapest.
  • Cardew
    Cardew Posts: 29,036 Forumite
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    Chrysalis wrote: »

    with this company I would be charged £15.75 flat fee and then approx 832 units usage at 0.083p per unit. Which would be almost £7 so around £23 a quarter, sounds way good to be true and amounts to much more than £50 a year saving.

    Presumably you mean 8.3p per unit(£0.083)

    Unless my arithmetic is wrong 832 units would cost nearly £70 (not £7)
  • Chrysalis
    Chrysalis Posts: 4,154 Forumite
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    Cardew wrote: »
    Presumably you mean 8.3p per unit(£0.083)

    Unless my arithmetic is wrong 832 units would cost nearly £70 (not £7)

    makes more sense I misread it, it sounded way too good to be true.

    so £70 and the £15 I save £15 a quarter, so to be fair they are cheap as atlantic are one of the cheapest about.

    Unless of course it is someone with very low usage.

    Howver if they dont allow manual payments, insist on DD's that are set too high etc. then they probably not worth bothering with.
  • KimYeovil
    KimYeovil Posts: 6,156 Forumite
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    Don't take this personally, Chrysalis. You may (or you may not) find this old clip very funny:

    http://verizonmath.blogspot.com/2007/08/original-recording-of-verizon-customer.html
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