OVO 2 year fix ending soon

barnaclebill

My 2 year fix with OVO has been very good, the energy club has not been able to beat it.
ovo have given me an option for a new fix, a 12 month £15 per month more than now or a 2 year at £22 per month more.
The 12 month is cheaper than the other big suppliers (just) have not seen another quote for a 2 year fix to compare. Happy to stay with ovo, I am in credit earning 4% interest but the question is take the 12 month or the 2 year fix?

SamDude

£15 a month is £180 more over a year.
Should be easy to beat if you compare?

[Deleted User]

Also given that OVO are looking to buy the SSE retail business, then OVO may be in for some interesting times. The new company will be 5 times bigger than OVO is now so it might be better to be elsewhere.
https://www.thisismoney.co.uk/money/markets/article-7346807/Ovos-bid-SSEs-5-7m-customers-create-rival-British-Gas.html

rabialiones

i am on this deal, my dd doubled after about a year.
i let it be at the time, but am now getting worried as mse comparison site states that they are being investigated by ofcom.
anyone else had this increase??


also, when i input my annual usage, to compare prices, most of the prices are half of what i am paying at present , even ovo's

DawnCrush

rabialiones wrote: »

i am on this deal, my dd doubled after about a year.
i let it be at the time, but am now getting worried as mse comparison site states that they are being investigated by ofcom.
anyone else had this increase??


also, when i input my annual usage, to compare prices, most of the prices are half of what i am paying at present , even ovo's

Really?

Whilst Ovo have not been the cheapest supplier for many for several years now, and you may have paid a premium for a 2 year fix, I really wouldn't have thought anyone would be only half the cost today as to what you agreed, especially as prices have risen over the last 2 years.

We agreed to a 2 year fix with a different supplier about 18 months ago (which had the advantage of no early exit fees), and today there is no supplier who can beat that tariff for us. And now we still have the expensive winter period to come enjoying our low rates we have secured :money:

I think you may be doing something wrong.

Please advise the following and someone can maybe help you further:
1. The exact name of the 2 year tariff you are on with Ovo
2. Your annual consumption figures in kWh
3. Your supply region (or first part of your post-code)

Edit1: why did you opt for Ovo 2 years ago?
You said 2 years ago that the CEC indicated that Engie woould be the cheapest for you
https://forums.moneysavingexpert.com/showpost.php?p=73092044&postcount=23

Edit2: In January this year, you indicated you were with Scottish Power (actually on a tariff due to end that day) and were looking to simply renew with them
https://forums.moneysavingexpert.com/discussion/5958358

:cool:

barnaclebill

Whoops mistake in my original post ovo new deal for me on a 12 month fix is £21 per month more, cheapest on the energy club of the big 6 is eon at £14 per month more. The ovo fix has 36 days to go so wondering to change now as it takes 4 to 6 weeks I believe?

rabialiones

DawnCrush wrote: »

Really?

Whilst Ovo have not been the cheapest supplier for many for several years now, and you may have paid a premium for a 2 year fix, I really wouldn't have thought anyone would be only half the cost today as to what you agreed, especially as prices have risen over the last 2 years.

We agreed to a 2 year fix with a different supplier about 18 months ago (which had the advantage of no early exit fees), and today there is no supplier who can beat that tariff for us. And now we still have the expensive winter period to come enjoying our low rates we have secured :money:

I think you may be doing something wrong.

Please advise the following and someone can maybe help you further:
1. The exact name of the 2 year tariff you are on with Ovo


2 year fix ending october 2019




2. Your annual consumption figures in kWh


gas meter readings :-


august 15th 2018

---

06843



august 15th 2019

---

09142



the difference between these two readings is 2299, yet ovo are saying my annual consumption is Gas: 27802




3. Your supply region (or first part of your post-code)


south yorkshire


Edit1: why did you opt for Ovo 2 years ago?
You said 2 years ago that the CEC indicated that Engie woould be the cheapest for you
https://forums.moneysavingexpert.com/showpost.php?p=73092044&postcount=23


at the time i understood ovo was a big supplier and engie are smaller one, so i went with ovo


Edit2: In January this year, you indicated you were with Scottish Power (actually on a tariff due to end that day) and were looking to simply renew with them
https://forums.moneysavingexpert.com/discussion/5958358/scottish-power-changing-tariff
:cool:

yes, i did post that, but it was for my mum, and found it easier to post like that


sorry for any confusion and late reply, due to sending and receiving emails to ove to try and sort this out.
however i am none the wiser as ovo keep telling me my annual usage is Gas: 27802


when checking with previous annual usage 2016-2017 my gas
usage was 1862, i obtained this figure from calculating readings at start and end of the fix (same as i have done above) and inserted this figure into comparison site.
this was similar to the annual usage i had been give by previous supplier.


taking all this consideration , ovo are now telling me my account is £177 in credit , but i have been paying monthly payments of


october 2017 - may 2018 - £107


june 2018 - august 2018 - £161


sept 2018 - march 2019 - £127


april 2019 - september 2019 - £147


they have now reduced my payments to £114 after i raised this dispute with them.
i admit i did not give readings every month, which is a mistake on my behalf



i have read on ovo forums that other people have encountered similar problems.


i would be grateful for any help with this issue
thanks

Talldave

You're making the mistake of thinking that gas meters read in kWhr, which they don't. They read volume (cu ft or cu m). There's some mathematical gymnastics to get from volume to kWhr, but Ovo are right (assuming you have a metric meter reading in cubic m).

So, back to the comparison sites with 28,000kWhr of gas and whatever your electricity consumption is (electricity meters do measure kWhr so you can subtract meter readings for electricity)!

Gerry1

Stop thinking in terms of monthly DD amounts; start thinking annual usage in kWh based on actual meter readings, never estimates.

https://www.moneysavingexpert.com/utilities/lower-energy-direct-debits/

Your estimate of annual gas consumption is extremely low. You're probably confusing the volume of gas used with the amount of energy used: meters display the volume used in cubic metres or hundreds of cubic feet.

You can use this conversion tool.


Edit: Whoops, beaten to it by Talldave!

Talldave

Gerry1 wrote: »

Stop thinking in terms of monthly DD amounts; start thinking annual usage in kWh based on actual meter readings, never estimates.

https://www.moneysavingexpert.com/utilities/lower-energy-direct-debits/

Your estimate of annual gas consumption is extremely low. You're probably confusing the volume of gas used with the amount of energy used: meters display the volume used in cubic metres or hundreds of cubic feet.

You can use this conversion tool.


Edit: Whoops, beaten to it by Talldave!

Yes but the advice to stop focusing on DD amount is good.

As is the advice to ignore "savings" figures on comparison sites and focus on the actual cost, because the savings are fictitious values that would only apply if you did nothing and went on to your supplier's standard rate. Ie a comparison site can show you making savings by switching to a tarrif that costs more than the deal you are currently on.

Robin9

rabialiones wrote: »

..............................

when checking with previous annual usage 2016-2017 my gas
usage was 1862, i obtained this figure from calculating readings at start and end of the fix .................

As others have said the 1862 looks to be your meter reading - this will be in m3 or ft3. If it is a m3 meter (as marked on the meter itself and also shown on the bill - you need to multiply this by approx 11.2 (if ft3 by 33)

Is the 1862 figure based on ACTUAL readings ? otherwise you are leading yourself up the garden path.

Have you nothing more up to date than 2016-17 ?