At OVO, we believe in keeping energy as simple as possible.
Of course, when you’re looking for cheap gas and electric quotes, the first (and maybe the only) thing you mean to consider is price. However, if you really want to compare gas and electricity from different providers as accurately as possible, there are other aspects to think about as well, like service.
For example, if you’re the kind of person who always wants to be able to phone up and chat to a real UK-based adviser rather than managing your account online, you may think that’s worth paying a bit more for.
And there are certainly plenty of us who are prepared to spend a little extra to protect the planet. To get 100% renewable electricity1, sign up for Green Energy. As an added option, available with any plan, it’s made to fit around your lifestyle.
To start with, you’ll pay the monthly amount shown in your quote. However, if we find you’re using more energy than we expected, or much less, we may need to adjust your payment to make sure it covers your energy use accurately over the year.
To us, renewable electricity means energy generated by renewable sources, like wind power, or the sun’s rays. We believe it’s important to use as much renewable electricity as we can, so all our plans offer a minimum of 50% renewable electricity (see more about our fuel mix). Want to go even greener? Choose our Green Energy upgrade and get 100% renewable electricity.
At OVO, we only charge exit fees on our fixed plans. If you want to find out if they apply to your plan, please check your contract. If it does include exit fees, you may be liable to pay these charges if you leave your fixed plan early, or downgrade your plan at any point during your contract. The amount will be £30 per fuel (including VAT) – so you might have to pay us £60 because you’ve changed your mind.
If you’re on a ‘fixed price’ or ‘fixed rate’ plan or contract, it means that the unit prices you’re paying for your gas and electricity won’t change, no matter what may happen to national energy prices. Once we’ve offered you a price and you’ve accepted it, it will stay the same for the 12 months of your contract.
Just to make it clear, fixed prices are not the same as fixed payments. The basic rate that you’re paying for each unit of energy stays the same, but your payments could rise or fall if you use more or less energy each month than we originally expected.
Our OVO Interest Rewards2 are just our way of thanking you for your loyalty. And for keeping your account in credit too. You'll start with a 3% reward in your first year, before we increase it to 4% in year two, and 5% the following year. Essentially, the longer you stay with us, the more we'll say thanks.
3% in your first year with us.
4% in your second year.
And 5% in your third year, and 5% every year after.
1If you’re signed up to Green Energy, we purchase renewable certificates for 100% of your electricity use from green sources such as wind, solar, geothermal and hydro. Please click here for more information.
2Interest is calculated at 3% per year and paid monthly, based on the number of days your account is in credit and the amount left in your account after you've paid your bill. 3% OVO Interest Reward is capped at 12 times your current direct debit amount and is available to customers paying in advance by direct debit. Terms and Conditions apply.
*3% interest - Calculated at 3% per year for customers paying by advance direct debit. The OVO Interest Reward is paid monthly based on number of days in credit and the amount left in your account after you’ve paid your bill, and the credit balance on which you can earn the OVO Interest Reward is capped.
**Estimated prices based on national average usage for both gas & electricity. These are the average annual bills for an average medium consumer (non economy 7, 3100 kWh electricity, 12500 kWh gas) based on a UK average. Estimated prices are correct as of 12/6/2018.
2Pay monthly saving claims: Saving based on the estimated annual cost of OVO Better Energy tariff for a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying monthly in advance by direct debit. Comparisons made against the average of the Big 6 standard variable tariffs with equivalent features. All rates correct as of 28/01/2020.“The Big 6” are British Gas, Scottish Power, SSE, Npower, E.ON and EDF.
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