Fixed Rate Tariff

Mintyrose

Hi everyone, what would you do? 

My fixed rate with OVO ends on the 28th march,and they’ve offered me a new one for 2 years @ £66 a month, or a loyalty of 1 year @ £66 per month but can go onto any new tariff within that year free of charge, with the prices changing in April 1st, should I just go on their normal tariff till then , hoping prices come down a lot, or should I fix and change or just do the 2 years as prices will go up and down in that time? 😬😫 just don’t know what to do 😂 thanks 

matelodave

The monthly cost does not give us any information on the tariff that you are being offered or the amount of energy (gas or electricity) that you use. Its easy to be quoted a monthly cost but that could easily leave you either overpaying or ramping up a high level of debt if it doesn't accurately reflect either your consumption or tariff.

You need to tell us how much energy you use in a year (in kwh) and the tariff - the cost of 1kwh of electricity and/or gas plus the daily standing charge for gas and/or electricity.

Mintyrose

matelodave said:

The monthly cost does not give us any information on the tariff that you are being offered or the amount of energy (gas or electricity) that you use. Its easy to be quoted a monthly cost but that could easily leave you either overpaying or ramping up a high level of debt if it doesn't accurately reflect either your consumption or tariff.

You need to tell us how much energy you use in a year (in kwh) and the tariff - the cost of 1kwh of electricity and/or gas plus the daily standing charge for gas and/or electricity.

Ahh ok ! Thank you 

it’s just for electric ⚡️ 

2156 kWh a year 
67.01 standing charge a day 😠
25.37 KWh 

Mintyrose

Ahh ok ! Thank you 

it’s just for electric ⚡️ 

2156 kWh a year 
67.01 standing charge a day 😠
25.37 KWh  

bristolleedsfan

Mintyrose said:

Ahh ok ! Thank you 

it’s just for electric ⚡️ 

2156 kWh a year 
67.01 standing charge a day 😠
25.37 KWh  

Which region do you live within, my first thoughts looks like expensive kWh rate, looked up a new quote for Yorkshire region SC very close to figure you mention.

Unit Rate:

23.31p/kWh

---

Standing Charge:

67.39p/day

Mintyrose

bristolleedsfan said:

Mintyrose said:

Ahh ok ! Thank you 

it’s just for electric ⚡️ 

2156 kWh a year 
67.01 standing charge a day 😠
25.37 KWh  

Which region do you live within, my first thoughts looks like expensive kWh rate, looked up a new quote for Yorkshire region SC very close to figure you mention.

Unit Rate:

23.31p/kWh

---

Standing Charge:

67.39p/day

I’m in north wales, so it’s manweb 

bristolleedsfan

Mintyrose said:

Ahh ok ! Thank you 

it’s just for electric ⚡️ 

2156 kWh a year 
67.01 standing charge a day 😠
25.37 KWh  

For comparison, EDF currently offering cheapest 12 month tariff, no exit fee to subsequently change to another EDF fixed tariff.

Mersey/N Wales region

Unit rate

23.47p per kWh

Standing charge

67.03p per day