OVO Energy Price Increases

Al1944

Al1944

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Have received notification from OVO of an increase of around 29% (Gas/Elect combined) for the coming year. Has anyone else received notification and is your increase this high?
I'm not in debit btw.

Thanks,
AL
 
I had an email from them last August telling me my fixed term had ended so I thought "here we go again" expecting monumental hikes, but the new fixed (i think) term they offered me turned out to be a £10 less per month, so for once, i decided to stay with the same energy provider. Not had anything off them lately about 29% hikes.
 
Crikey. Thanks for the heads up. I've been with OVO for several years and I've been very happy with their service and prices.
But my current contract ends in March and based on that price hike I suspect I may be looking to switch.

My latest OVO statement says that my estimated annual usage is 3376 kWh of electricity and 11953 kWh of gas. The annual cost based on this usage is £826.
I got a quote from the OVO website and for the same level of usage it came out to £1026.
That's an increase of 24%. Ouch!
 
Something strange going on! The new figures I was given work out at £125 per month. However, I, too, have just gone through the new quote process and have been quoted £95 per month!

And particularly annoying since they quoted this in an email to me a few days ago:

"The price increase has affected all customers, both new and existing, we
do not offer 'teaser rates' for the first year to acquire new customers
and believe in being open and honest about our rates so you always know
exactly what you are paying."

Unbelievable!
 
Al1944 said:
And particularly annoying since they quoted this in an email to me a few days ago:
Click to expand...
You're annoyed that the bill is £30 less than you thought it was going to be? Strange chap.
 
It is not going to be £30 less, it will be £30 more. I'm already with them so can't take out a new contract.
 
U-Switch or Go-Comaper
simples
 
I have a spreadsheet that I set up last year. Even if I used the same figures, the costs this year are £200 higher across the board - all of the mainstream companies. The small companies are a bit cheaper - some up to £130.
 
Cheap energy club. They give you the switch fee they earn and they also list ones that don't pay any.
 
I've just left sainsburys energy and gone to So Energy. I switched through the Cheap Energy Club that Martin Lewis set up. It gives straight no fuss answers to which company charges what.
 
I had to renew my 'taffif' with them recently (maybe 3 months ago)

Gas stayed the same

Electric went up from 0.1105 per KWh to 0.1390 per KWh.

Basically my electric bill went up about a tenner a month which is 20% ish.
Seems a bit steep, I guess they get you using a cheap first year tarriff and then jack the price up come year 2.
 
noneforit said:
I guess they get you using a cheap first year tarriff and then jack the price up come year 2.
Click to expand...
OVO don't do that.

I mentioned this increase to my wife last night and she wasn't surprised at all. Her current job is modelling power station economics for Centrica, and she said the prices for gas and electricity had been increasing for a few months now so it's not surprising that it's feeding through to consumer tariffs. A combination of the exchange rate and a lack of generating capacity, I gather. National Grid are doing something about the latter, but it takes time. They had a capacity auction last month for suppliers to provide generating capacity from 2020 (which is mainly why my wife has been working at Centrica).
 
Prices are always hiked in the colder months. I start looking in August or so.
 
srichards said:
Prices are always hiked in the colder months. I start looking in August or so.
Click to expand...
For 12-month contracts in a competitive market, that would appear to be sub-optimal. Do you have any data to support your assertion?
 
StewartR said:
For 12-month contracts in a competitive market, that would appear to be sub-optimal. Do you have any data to support your assertion?
Click to expand...

Do you have any data to support yours? Whenever I have checked later in the year the deals offered are often worse than the one I'm on already. The very cheap deals are also often with poor providers that go bust or that offer dreadful customer service. I check quite often. I actually read the tariff details too as frequently the claimed savings are nonsense anyway.
 
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