MSE News: This year's cheapest energy tariff launches - is it right for you?

footyguy

Bark01 wrote: »

OVO have not reduced prices they have released a new product that is cheaper than there last product, most suppliers are doing this. Yet OVO are the only ones marketing it as a price change.

Whilst cheaper prices are obviously a good thing. Only new OVO customers will see these prices, current customers will only see these prices if they pay the cancellation fee on their current tariff. So can we stop letting OVO make it sound like these changes are something they are not.

Not sure what you really mean.

Ovo only offer a fixed price tariff to new customers (and no existing customer in their right mind would agree to stay on their very expensive variable option when the tariff expires - they can always choose a new fixed deal)

So of course they had to withdraw their older deal and replace it with the new, lower cost fixed price tariff. And of course, it does not affect existing customers who have agreed to a fixed price ... until they come to an end of their current tariff.

Zog energy as an example have done exactly the same

To reflect falling wholesale energy prices, we have cut the cost of our Mercury 12 tariff by up to 11% (discount varies by region)

http://www.zogenergy.com/

Pincher

I checked, using Moneysupermarket.com, Ovo Cheaper Energy around 8th March 2014, and again yesterday, and I don't think the quote has changed.

I always use 16,500/3,300kWh, just out of old habit. I use a NW London post code.

In retrospect, I shouldn't have fixed in October 2013.
I should have let the old fix end on 31st December 2013, then switch, penalty free, to Ovo around March 2014.

Obviously, I can pay the penalty to switch to Ovo, but the penalty is roughly the same as the savings for the Ovo one year fix. The Ovo 2016 two year fix is the same as my existing March 2015 fix.

faddy

NPowerUser wrote: »

Isupply cannot set up a DD in my wife's name

Put your name and your wife's bank account number? I believe account names aren't passed between banks.

macman

Is it possible for those of us already in the process of switching to the earlier Ovo Cheaper Energy fix (pre April 9th) to migrate to the new one? I'm already beyond the cooling- off period, but not due to go on supply until 28/4.
In my region it's a 2% difference (£37).
However, if this is likely to cancel my cashback (Quidco via energylink), then there would be no point.

1jim

Quick question, do the comparison sites include the dual fuel discount when reporting the overall price for duel fuel or is the online duel fuel discount in addition to that price?

Just checking as duel fuel with ovo looks good, but it appears that it's cheaper for me if I get gas and electricity from separate providers, that is unless ovos comparison price does. It include the discount

ConfusedofYorkshire

1jim wrote: »

Quick question, do the comparison sites include the dual fuel discount when reporting the overall price for duel fuel or is the online duel fuel discount in addition to that price?

Just checking as duel fuel with ovo looks good, but it appears that it's cheaper for me if I get gas and electricity from separate providers, that is unless ovos comparison price does. It include the discount

It was cheaper for me to go with separate providers too

1jim

Cheers
Have gone with zog energy for gas and extra energy for electricity (via TopCashBack/energy helpline for cash back)
Based on last years useage the above should be £200 cheaper than the edf blue june2015 I'd just moved onto. Would have only been £115 ish by going with ovo, happy days :-)

pooch

1jim wrote: »

Quick question, do the comparison sites include the dual fuel discount when reporting the overall price for duel fuel or is the online duel fuel discount in addition to that price?

Just checking as duel fuel with ovo looks good, but it appears that it's cheaper for me if I get gas and electricity from separate providers, that is unless ovos comparison price does. It include the discount

If you llok at the tariff detail on the comparison site, it should explain what discounts, if any, are applicable to that tariff and if they are in addition to the savings shown.

However, I can confirm that no comparison site includes any dual fuel discount in their calculation for any current Ovo tariff ...



... because there are none
(I can't remember there ever has been either)

pooch

macman wrote: »

Is it possible for those of us already in the process of switching to the earlier Ovo Cheaper Energy fix (pre April 9th) to migrate to the new one? I'm already beyond the cooling- off period, but not due to go on supply until 28/4.
In my region it's a 2% difference (£37).
However, if this is likely to cancel my cashback (Quidco via energylink), then there would be no point.

There have been several posts on peoples experiences in this regard.

Only 1 person has reported any success (I got the Saxo out for that) and several have reported failures.

Even if you Saxo wasn't appropriate, (I think that person was within their cooling off period anyway, and the supplier may have thought the customer would otherwise take advantage of that) yes you would almost certainly lose any cashback as you would be on a different tariff to the one you originally applied for.
To those that reported failure, presumably there was an option, but it would have cost them £30 per fuel to transfer which would negate any advantage of transferring for most.

I guess all you can do is ask the supplier. They may not be able to advise you on any implications to any third party cashback, (Martin always says don't base any decision on the possibility of cashback anyway, as it is never guaranteed until it lands in your own bank account) but should be able to advise you of the possibility of transferring and the cost, if any, before you agree to do so.

macman

My understanding is that the £30 per fuel ETC is charged if you leave Ovo within the fixed term-not if you switch to a different Ovo tariff.
I'm going to wait until my switch has actually gone through and then ask the question.