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Pricing Statement

9 JUNE 2015: After a series of internal efficiency savings related largely to operational and technology systems (among other areas), OVO Energy will once again be decreasing prices. Today’s 2% drop represents a saving of £21 a year.

This is OVO’s 6th price decrease in 12 months , during which time the independent supplier has been (on average) 17% cheaper than the Big Six Standard Variable Tariff.

The move will affect new and renewing customers only, on OVO’s 12 month pay-monthly fixed tariffs (Better Energy and Greener Energy). Renewing customers will save around £65 on the price at which they joined OVO this time last year, and new customers will save around £225 against an average Big Six Standard Variable Tariff today .

Following the price drop OVO’s price for a dual fuel customer will now be £933.

OVO reviews its prices on a regular basis and has a strong track record of cost-reflexive pricing and passing back savings to customers whenever possible. These principle sit at the heart of the company’s promise to customers that the deal they are getting from OVO will always be fair, transparent and as competitive as possible.

The decrease takes effect at 00.01 on 09 June 2015.

 

ENDS

 

Notes:

Today’s price decrease is on OVO’s fixed pay-monthly Better and Greener energy plans. OVO’s Standard Variable Tariff (Simpler) will not change at this time.  Only around 14% of OVO’S customers are on a Standard Variable Tariff - which is consistently ranked in the top five cheapest Standard Variable Tariffs in the UK - in comparison to 60-80% of Big Six customers .

Price comparisons are made using OVO’s cheapest non-Economy 7 dual-fuel tariff at the relevant time (including all available discounts, paying by direct debit in advance and averaged over all available regions) compared to an average of the Big Six Standard Variable Dual-fuel Tariffs (excluding online discounts, using a variety of payment methods including direct debit and averaged over all available regions).

The “Big Six” are E.ON, SSE, British Gas, Scottish Power, Npower and EDF.

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O​VO​ Energy Ltd, registered office 1 Rivergate Temple Quay Bristol, BS1 6ED, company no. 06890795 registered in England and Wales, VAT No. 100119879

Additional terms and conditions
Please see below for full terms and conditions on 33% renewable electricity, 3% interest rewards, exit fees and saving claims.

 

1Monthly cost - Representative monthly direct debit costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying in advance by direct debit, including online discount.  All rates correct as of 23/08/16, but may go up or down.

2Weekly cost - Representative weekly costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas).  All rates correct as of 23/08/16, but may go up or down.

3Pay Monthly Savings are based on the average estimated annual costs for new PAYM OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location.

4Pay As You Go Savings are based on the average estimated annual costs for new PAYG OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location. 

We include almost twice as much renewable electricity as the national average: At least 33% of electricity in all of our tariffs comes from renewable sources. The national average, according to Ofgem as at March 2014 was 16.7%. For more information please visit this page.

33% of your electricity comes from renewable sources: 33% renewable electricity as standard as of 1st April 2015. Renewable electricity is generated from wind, solar, geothermal, wave, tidal, hydro, biomass, landfill gas, sewage treatment plant gas and biogas.

3% interest: Calculated at 3% per year, paid monthly based on number of days in credit and the amount left in your account after you’ve paid your bill. OVO Interest Reward is capped at 12 times the amount of the current direct debit amount and is available to customers paying by advance direct debit. Terms apply: http://www.ovoenergy.com/terms/

95% of new customers save when switching to OVO: Based on all new customer signups between 01/02/2016 and 31/07/2016

94% of surveyed customers would recommend us: OVO conducted a survey of their customers in between 1st January 2016 and 15th April 2016. Out of 15,312 customers who responded, over 94% rated OVO 6+ when asked 'how likely would you be to recommend us to a friend and family, on a scale of 1 to 10.

Britain's top rated energy provider: Britain's top rated energy provider in the Which? 2015 satisfaction survey. Survey conducted in October 2015. Awarded in January 2016.

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