New March OVO Energy Rates Going down

ianjm_2

Hi All

I am with Ovo Energy at present and was using the excellent "Cheap Energy Club" and was about to jump to another supplier.
Yesterday I received an email with the rates for March.
Anyone who is thinking of moving might be better to wait and see if the other suppliers betters OVO's the new rates.

With the £60 per year on line reduction this just beats all the current offerings for me - I shall still wait a while before signing up though!

New Rates sent to me for 1 year starting in March for Better Energy - East Midlands Area on Economy 7


(fixed rate)1 year Rolling
Leaving fees Not applicable

Electricity unit price Day (per Kwh) 11.85p
Electricity unit price Night (per Kwh) 6.43p
Electricity standing charge (per day) 27.40p

Gas unit price (per Kwh) 2.21p
Gas standing charge (per day) 27.40p

System

Nothing showing on the Ovo website so it is hard to see why anyone would delay switching if there are better deals on the table - which there are. Better Energy for me is £71 per year more expensive on an annual spend of £660.

ianjm_2

My post is to let people know that what Ovo are offering now will be going down.

The offer they sent to me is £124/yr cheaper than I am currently paying.
It is also £56/yr cheaper than what they are showing/offering today

Anyone who is thinking of jumping might be better waiting a few days to see if the market moves.

poppellerant

I too am with OVO and I really don't want to leave them - but, at time of switching, if the prices are too expensive to stay with I will have to switch supplier. A lot of people, including myself, can't afford the premium that customer service seems to cost these days.

System

poppellerant wrote: »

I too am with OVO and I really don't want to leave them - but, at time of switching, if the prices are too expensive to stay with I will have to switch supplier. A lot of people, including myself, can't afford the premium that customer service seems to cost these days.

I switched away from Ovo in December from a July 15 Better Energy Online tariff to save £121 per year. If Ovo has a further tariff reduction in mind, then I will consider switching back in April (thus avoiding the termination charge of £60). My guess is that Ovo will soon go full circle and it will introduce exit fees. It will though have to go some to beat Zog for gas and GBEnergy for electricity.

ianjm_2

Have to agree that OVO are good - that said I'm not going to stay just because of customer service.
The competition will have to drop their prices in the next month by a good margin to get me to move though.
OVO's offer has no lock in and most of the competition do - with OVO I could move again if the current drop in oil price is maintained and OVO don't follow the competition. I have to balance that against a possible cash back for moving. I'll make my mind up in the next few weeks.

ianjm_2

Hengus wrote: »

It will though have to go some to beat Zog for gas and GBEnergy for electricity.

Just run the figures from Zog and GBEnergy through my spreadsheet for a comparison and for me its so marginal it would not be worth me going down that route with a lock-in on gas from Zog (which is cheaper for Gas).
Tried GBEnergy on dual fuel E7 and they are way more expensive for me!

Everyone needs to understand that the cheapest tariff for one house will not be cheaper for all houses even if they are very similar. Size, insulation and lifestyle will determine your energy use.
You need to know your annual use for gas & electricity and putting those into the Cheap Energy Club is a great start on deciding who is cheapest for your house.