Ovo

Dhmellor

We've been on the British Gas fixed price dual fuel tariff, which runs out this month. They have offered to put us on a new fixed price until March 2011 but it's a lot more expensive, so it's no thanks.

On the switching sites I gather that the best deal for us would be from Ovo. Ovo? I've never heard of 'em, though I did once know a girl who played the oboe :rotfl:

Should I be wary?

Barneysmom

I've never heard of them but I'm asking questions re the tariffs too.....


http://forums.moneysavingexpert.com/showthread.html?t=2143205


I think Omo was a washing powder?

Plushchris

Dhmellor wrote: »

We've been on the British Gas fixed price dual fuel tariff, which runs out this month. They have offered to put us on a new fixed price until March 2011 but it's a lot more expensive, so it's no thanks.

On the switching sites I gather that the best deal for us would be from Ovo. Ovo? I've never heard of 'em, though I did once know a girl who played the oboe :rotfl:

Should I be wary?

Not really, bear in mind the £60 cancelation fee on their tariffs, being a new company there hasnt been a lot of feedback about them yet.

If its the new company aspect of it you are wary about dont worry too much, if they go bust or anything you wont get cut off or anything like that, one of the big 6 suppliers will take over the supply.

If the savings with Ovo are around £60 or more than the next one down in the list you havent really got much to lose because even if you have to pay the cancelation fee you would have been better off.

Premier_2

http://forums.moneysavingexpert.com/showthread.html?t=1949353

http://forums.moneysavingexpert.com/showthread.html?t=2028035

1carminestocky

Plushchris wrote: »

Not really, bear in mind the £60 cancelation fee on their tariffs, being a new company there hasnt been a lot of feedback about them yet.

If its the new company aspect of it you are wary about dont worry too much, if they go bust or anything you wont get cut off or anything like that, one of the big 6 suppliers will take over the supply.

If the savings with Ovo are around £60 or more than the next one down in the list you havent really got much to lose because even if you have to pay the cancelation fee you would have been better off.

That's OK then. Any idea what would happen to the credit an OVO punter had accrued on their account in just such a scenario? You didn't say....

stubbs0907

Hi

I work for NPower and have came across more and more customers moving to smaller newer companies from the "big 6 suppliers" (edf, npower, british gas, scottish and southern, scottish power and eon)

ovo seem to have one of the cheapest tariffs on the market at the moment and just because they are fairly new you cant really go wrong.

all you need to make sure is they bill you on your correct msn (Meter serial number) which wil be on your bills and on your meter and that they bill you on the right reads. other than that nothing can go wrong.

each are has a designated meter reader and ovo, npower, scottish and southern etc will all use the same company in your area so it makes no difference.

an average change of supply takes 4 - 6 weeks and if you dont like it its easy to change somewhere else

i say go for it, the longer you wait the more money your paying

Plushchris

1carminestocky wrote: »

That's OK then. Any idea what would happen to the credit an OVO punter had accrued on their account in just such a scenario? You didn't say....

If there is a lot of credit on the account then yes, you may lose it, so its down to the consumer to make sure there isnt too much credit on the account.

I cant see Ovo going bust though tbh...

1carminestocky

Plushchris wrote: »

If there is a lot of credit on the account then yes, you may lose it, so its down to the consumer to make sure there isnt too much credit on the account.

I cant see Ovo going bust though tbh...

Nice to see your confidence, PC. So, what's the limit on credit that isn't repaid should OVO go bust? How far up the food chain you reckon OVO punters would be should the worst happen?

You've obvioulsy done full research on this company to be confident enough to recommend them so how do they source their fuel and from where? How are they funded and to what extent? And do they have contingencies in place to cover themselves against sudden surges in wholesale prices? TIA.

Plushchris

1carminestocky wrote: »

Nice to see your confidence, PC. So, what's the limit on credit that isn't repaid should OVO go bust? How far up the food chain you reckon OVO punters would be should the worst happen?

You've obvioulsy done full research on this company to be confident enough to recommend them so how do they source their fuel and from where? How are they funded and to what extent? And do they have contingencies in place to cover themselves against sudden surges in wholesale prices? TIA.

Give them a call and ask them.

1carminestocky

Plushchris wrote: »

Give them a call and ask them.

So you don't know the answers to these questions but are confident enough about their future to recommend them? :eek: Curious....

Plushchris

1carminestocky wrote: »

So you don't know the answers to these questions but are confident enough about their future to recommend them? :eek: Curious....

Do you know the answers to the same questions about UW then?


EDIT: Also, not sure where I recommended them, I just answered the OP's question "Should I be wary?"