My energy contract ends in May 2022

atkinsons

My current contract with ovo ends in May. Do I stay with ovo on a fixed tariff or a SVR. I'm really confused.

MWT

atkinsons said:

My current contract with ovo ends in May. Do I stay with ovo on a fixed tariff or a SVR. I'm really confused.

Compare the fixed rates they are offering you with their standard variable rate and then decide...

The variable rate will go up again in October so there is some uncertainty in going with the variable rate, but unless you can get a fix that is no more than say 20% more expensive than the current variable rate it probably makes sense to just go with the variable tariff.

QrizB

Unless you've been offered a much better fix than anyone else, the variable rate will be cheaper until October.

What are your options?

Airwolf1

atkinsons said:

My current contract with ovo ends in May. Do I stay with ovo on a fixed tariff or a SVR. I'm really confused.

Have a look at what they offer you. Look at the standing charges and price per kwh for gas and electricity on their fixed tariff, and have a look at it on their variable rate. It is highly likely their variable rate will be better for you.

Olinda99

OVO - move to svr don't fix

ZolaBuddy

SVR is probably the best short term option, but come August/ September it might be worth looking at fixed just prior to the expected rise in the Price Cap in October, which will mean higher SVR bills compared to a fixed taken in September.

atkinsons

Can I do svr for just a short term until Oct?

QrizB

atkinsons said:

Can I do svr for just a short term until Oct?

Yes, there's no fixed term and no leaving fee. You can switch (to a different tariff with the same supplier, or to a different supplier) at any time.