If you think your energy supplier is charging you over the odds and you’d like to look around for a better deal, don’t be put off just because you’ve also got a Feed-In Tariff (FIT) contract. Changing electricity supplier with solar panels is just the same as any other switch – in fact you don’t need to worry about your FIT contract at all.
A Feed-In Tariff is simply a standard subsidy paid out by most energy companies (certainly all the big ones). The company that pays your subsidy is known as your FIT licensee, and they don’t need to be the same as your energy supplier. You can have separate contracts for your energy supply and your FIT payments.
So switching energy supplier with solar panels doesn’t need to affect your FIT contract at all. Your old supplier can still be your FIT licensee and carry on paying you the same rate.
No matter which energy company you’re currently with, it’s always worth checking the market regularly to see if you could save money by switching. So it’s good to know that there’s no problem changing supplier when you’ve got a FIT contract.
All FIT payments are set by Ofgem, so there’s no need to compare energy companies or try to switch for a better deal on your FIT payments. If you want to switch energy providers, you should be looking for savings on the money you pay for your fuel, not increases in the amount you earn from your FIT contract.
No – you don’t have to stay with the same FIT licensee forever. You can change whenever you want.
Remember, you won’t get a better financial deal by moving to a new FIT licensee. However, if you’re not satisfied with the service you’ve been receiving, or the time it takes your FIT licensee to pay you, it may be worth switching.
First, make sure the company you’ve chosen is licensed to pay Feed-In Tariffs. See the question below for a list of companies that have to offer FIT contracts.
Contact the company through their website and check that they’re happy to take you on. You may need to fill in an application form and confirm your request in writing.
Your new FIT licensee will get in touch with your current supplier and sort out a date for the switch. They’ll also arrange a ‘generation reading’ to make sure they have accurate figures for your solar panel energy output.
They’ll let you know when the switch is complete.
All the ‘big six’ – British Gas, EDF, E.ON, Npower, ScottishPower and SSE – plus first:utility and OVO Energy are legally required to offer FIT contracts. Many smaller suppliers also offer these contracts – you can see a complete list here.
Solar panels are a ‘green’ way to use your home to produce electricity. You then use this electricity in your home, and if there’s any surplus you can sell it through a Feed-In Tariff.
You can arrange a FIT contract with any of the companies that offer it (see the question above). It may be most convenient to arrange a contract with the company that currently supplies your other energy needs, but you can choose a different provider if you want.
If you’re thinking of switching energy supplier with solar panels, but want to shrink your bills in other ways as well, here are a few nifty suggestions.
To start with, try to cut down on your energy use by making sure your home and all your electrical appliances are working as efficiently as possible.
If you insulate your roof and walls, improve your heating system and follow the tips below, you could cut your energy bills by around £300 a year. You’ll also reduce your home’s carbon dioxide (CO2) emissions by approximately 1.5 tonnes – which is good for our planet, too.
Here are ten tips ideas saving energy:
You’ll find more ideas in our full energy saving guide
Yes, OVO does offer FIT contracts, and we also know that price matters – that’s why we keep our costs down, to help you save.
If you switch to OVO as your energy supplier, you'll also get our 3% OVO interest reward on any credit in your account.
Visit our website to see how your current provider matches up next to our range of energy plans – you can compare energy prices for our electricity, gas and dual fuel plans. They’re based on a medium user, paying by Direct Debit, averaged across all UK regions. It’s the quick and easy way to compare utility prices.
Have a look at our range of plans and see how much you could save now.
OVO 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.