OVO opens cheapest tariff to all customers regardless of contract – with no switch fees

• OVO contacting all customers who could save money by switching to a cheaper tariff.
• Offered alongside savings package worth up to £1,000 including free boiler service, discounted boilers with £400 off plus up to 20% further discount for customers in immediate need,  and smart thermostats which could reduce energy consumption by up to 31%.*
• Over the last year, OVO has helped over 3,000 customers access additional hardship support worth £3.4million

3 October 2022: OVO is opening its cheapest tariff to all customers, regardless of their contract. 

As wholesale prices continue to rise, the energy retailer is reviewing all contracts it has with customers to ensure they don’t miss out on a saving. 

Today, OVO will contact all of its customers to review whether they could pay less for their energy by moving to the Standard Variable Tariff (called Simpler). By moving to the SVT, some customers could save £100 each by Christmas. Vulnerable customers also have access to a new fund worth up to £1,000 per customer to support them over the winter – including £400 on a new boiler, free thermostats, electric throws and boiler services. 

Customers who made the decision to fix when tariffs were higher than the Government’s Energy Price Guarantee will also have the opportunity to switch for free – not penalised for choosing the certainty of a fix in time when global gas prices continue to rise.

Depending on their tariff, customers will be told: 

• That they’re on the best tariff for them and there is no need to change
• That a standard variable tariff is significantly cheaper for them 
• That they have a choice between a variable and fixed tariff and may switch without penalty

Additionally, customers are encouraged to visit the website to find out more about hardship schemes and the list of benefits on offer. Over the last year, more than 3,000 OVO customers so far have received debt advice from OVO, resulting in a total additional £3.4m in income gains for those customers collectively. On average, customers have saved £1,100 per year.

Raman Bhatia, CEO of OVO, said:

“We want to support customers this winter and beyond. That’s why we’re reviewing all tariffs to make sure customers are getting the best price for their energy. We’re also encouraging anyone concerned about keeping warm this winter to access additional support through our Customer Support Package, worth up to £1000 per customer – providing financial support and free services to reach those who need us most.”

OVO also confirms the following changes will take effect on 1st October 2022:

1. No exit fees for customers switching from a fixed tariff onto a variable tariff.
2. The Government Energy Price Guarantee will be applied to all customers’ bills – they do not need to apply.
3. All customers will start to receive the government’s £400 Energy Bill Support Scheme over six months.
4. OVO’s £50m Customer Support Package will start rolling out to eligible customers.

Earlier this month OVO announced a £50m Customer Support Package will be available for eligible customers in need of immediate relief. The package included:

• Financial relief: Direct Debit relief, emergency top-up extension, and payment holidays for customers struggling to pay for their energy.
• Hardship scheme: Additional funds will be allocated to our Hardship Scheme, which will provide additional support for customers via a wide range of interventions, accessed through our dedicated support team.
• Specialist support: Dedicated support for our customers in the most financial difficulty from a highly-trained team, including support for those in financial difficulty for the first time
• Free services: A range of free and heavily discounted products and services like smart thermostats and boiler servicing.

Find out more about our Customer Support Package by visiting: www.ovoenergy.com/customer-support-package 

END

Notes to Editors:

• *An independent study has shown that installing and correctly using a tadoº smart thermostat can reduce energy use from heating by up to 31%. 
• From 1 October the new Energy Price Guarantee will limit the energy bill for a typical household to £2,500 and is in addition to the Energy Bill Support Scheme. OVO will apply the Energy Price Guarantee at a unit rate to all variable customers’ bills – they do not need to take any further action. 
• SSE Energy Services customers will also be able to move to the cheapest tariff regardless of contract – with no switch fees.

For more information please contact:

[email protected]

About OVO Energy:

OVO Energy was founded in 2009 and redesigned the energy experience to be fair, effortless, green and simple for all customers.  The company has spent the last decade investing in the market leading technology, customer service operations and digital products to help customers cut their carbon emissions. OVO is on a mission through its sustainability strategy Plan Zero to tackle the most important issue of our time; the climate crisis, by bringing our customers with us on the journey towards zero carbon living. OVO Energy has committed to being a net zero carbon business and achieve bold science-based carbon reduction targets, while helping customers reduce their household emissions at the same time.