Ovo two year fix

Alnat1

adamcarvell said:

I can go onto svr ovo simply but the rates look higher than my fix atm

You've been quoted for annual use but how much of each fuel (in kWh) are you likely to use before you can "escape" your fix in mid September? (49 days before tariff finishes, no exit fee is payable) Can you make rough estimates from last years bills? It might be that the fees for jumping to another fix now cost much more than you will save over summer.

You're thinking of getting out of a fix now and prices are expected to drop again in July. Maybe it's not the right time to jump straight onto another fix and end up in the same situation again further down the line?

Have you considered waiting a while and moving to the SVT after prices drop in April, fee free?

bristolleedsfan

adamcarvell said:

I can go onto svr ovo simply but the rates look higher than my fix atm

OVO charge exit fee to change to another fixed rate tariff, it is obvious OVO will charge exit fee to change to SVR.

northernstar007

bristolleedsfan said:

adamcarvell said:

I can go onto svr ovo simply but the rates look higher than my fix atm

OVO charge exit fee to change to another fixed rate tariff, it is obvious OVO will charge exit fee to change to SVR.

correct, in my previous message , its £30 per fuel, still cheaper than a direct exit fee

bristolleedsfan

northernstar007 said:

bristolleedsfan said:

adamcarvell said:

I can go onto svr ovo simply but the rates look higher than my fix atm

OVO charge exit fee to change to another fixed rate tariff, it is obvious OVO will charge exit fee to change to SVR.

correct, in my previous message , its £30 per fuel, still cheaper than a direct exit fee

`Maybe that exit fee page relates to when exit fees were £30 per fuel, year 2021 is referred to .

https://www.ovoenergy.com/help/article/pricing

"On Tuesday 23 February 2021, we increased the headline price of our 2 Year Fixed Energy and Better Energy plans"

adamcarvell

bristolleedsfan said:

adamcarvell said:

I can go onto svr ovo simply but the rates look higher than my fix atm

OVO charge exit fee to change to another fixed rate tariff, it is obvious OVO will charge exit fee to change to SVR.

Yes £190 to get out of the contract 

adamcarvell

I signed up last November 

adamcarvell

So maybe best till the July cap that is forecast then switch to the svr.

adamcarvell

Alnat1 said:

adamcarvell said:

I can go onto svr ovo simply but the rates look higher than my fix atm

You've been quoted for annual use but how much of each fuel (in kWh) are you likely to use before you can "escape" your fix in mid September? (49 days before tariff finishes, no exit fee is payable) Can you make rough estimates from last years bills? It might be that the fees for jumping to another fix now cost much more than you will save over summer.

You're thinking of getting out of a fix now and prices are expected to drop again in July. Maybe it's not the right time to jump straight onto another fix and end up in the same situation again further down the line?

Have you considered waiting a while and moving to the SVT after prices drop in April, fee free?

I have another year and 9 months before I can jump penalty free.

adamcarvell

I have a question if I was to pay the exit fees I’m left with about £40 credit if I switch to octopus energy how soon do they want the first payment? They are quoting £140 a month on my annual usage.

MultiFuelBurner

adamcarvell said:

I have a question if I was to pay the exit fees I’m left with about £40 credit if I switch to octopus energy how soon do they want the first payment? They are quoting £140 a month on my annual usage.

As soon as you land unless you message them to change to variable direct debit and we found this means a month after you join or when you supply an actual meter read(s)