What you need to know about our variable plan price change

To help you understand what’s changing and why, we’ve put together a list of the most common questions you might have.

FAQ's

What is the government's price cap?

The energy price cap is set by Ofgem, the energy regulator, to make sure customers pay a fairer price for their energy. It’s made up of 2 main things: 

  • The cost of energy – called ‘unit rates’. This is how much you pay for each kilowatt-hour of electricity and gas.
  • A daily fixed amount covering the cost of supplying your home with energy – called ‘standing charges’. This includes the pipes, power lines, and maintenance of your meters.
Why are the energy prices on OVO’s variable plan changing?

We keep our prices in line with the price cap set by the government, which is there to make sure energy costs are fair.

Unfortunately, the price of energy on the market has gone up recently. These prices work a bit like petrol prices – they can change depending on many things. Like how much energy we all use, and how much it costs to produce and get it into homes.

To reflect all these changes, the government is increasing this price cap from 1 April. This means the prices on our variable plan will go up too.

How long will the prices stay this way?

The energy price cap is reviewed by Ofgem, the energy regulator, every 6 months – in April and October. They do this to make sure customers pay a fair price for their energy. So these new prices will stay the same from 1 April to 30 September 2021.

We make sure you always pay a fair price for your energy – and we’ll always let you know in advance if they change again.

Is there any support available if I’m struggling to pay for my energy?

There are lots of ways we can support you: visit our Coronavirus FAQs or get in touch with us – and together we’ll find the right solution for you:

  • Call us on 0800 0699 831 (8am-6pm Mon-Fri)
  • Message us on Twitter

If you’d like extra advice on saving energy you can call the Centre for Sustainable Energy on 0800 408 6601, or email ovo@cse.org.uk.

How can I cut down on my energy costs?

Head to our Help Centre and search ‘saving energy’ for guides, tips, and organisations that can help you save money on energy.

How can I save money on my energy bills?

You can choose one of our fixed-rate plans, where prices stay the same until the end of your contract. Check your online account to see how you could save money by moving to one of these plans.

Does this price change affect members on fixed-rate energy plans?

No, it only applies to members on our variable plan, Simpler Energy.

How can I set up a Direct Debit to get the lower prices on Simpler?

This handy guide walks you through all the steps.

What happens if I want to change suppliers?

We’d be sad to see you go, but if you decide to switch away, you’ll stay on your current rates if your new supplier tells us within 20 working days of 1 April that they’re taking over your power.

Remember to pay off any negative balance you might have in your energy account before you leave us, to make sure your switch goes smoothly. We’ll let you know if there’s anything left to pay.

If everything’s paid off within 30 days, your switch can still go ahead and the new price change won’t affect you.