Energy giant Ovo has launched its first deal for customers cheaper than the government's cap on household bills.
Ovo Energy, which provides power to more than four million homes, said it was launching the tariff because customers wanted "the security of a long term fix to protect them against the continuing energy price uncertainty". "After that, because wholesale rates - the rates energy firms pay - have dropped, it's likely the price cap will drop, and on current predictions that means you'll start paying 20% lower rates than now."
At that point the government's Energy Price Guarantee - which is being held at current levels until the end of June - will no longer be needed, they add.
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OVOEnergy SFitzpatrickOVO ofgem ombudservices grahamstuart scotgov 10DowningStreet How on earth can you take £181 from students accounts and leave them in poverty. The acounts been closed and you are no longer the supplier. Leaving students suicidal, despicable.
Don't be fooled by the charlatans OVOEnergy . They are as scummy as the rest of them. Here is the current wholesale gas price. They are taking advantage of people who are already struggling. They say we are currently paying for gas at mid Nov prices. So expect prices to plummet.
How ?
Ovo are bad. They send surprise bills through the door for energy you havnt used and then threaten when you dispute. Multiple people have reported this that I know.
Last week I tried to switch to Ovo it was so easy that I couldn’t do it and they didn’t help 😢
Ovo taking advantage, I’m sure others will follow. With wholesale prices much lower now than 12 months ago, why are we still paying 3x the old tariff? We are being fleeced and Conservatives and RishiSunak are endorsing profiteering by BritGas and others… scandalous
Still vastly overpriced. Energy companies need nationalised.
Log burner! That's what people need and revive the chimney sweep as well.👍
OVOEnergy need to fix their App, still only showing how much kWh of fuel used and not in £ how much you’ve spent. Apparently a number of customers experiencing problems according to their customer services team… Now been over a week.
Is the owner of BBC Roman English or Scandinavian English?
The price cap is an illusion, it goes by how much you turn heating on, these prices are a load of crap, you will be paying twice this amount easy.
Don’t rush into these fixed it may look cheaper but it probably has big exit fee as in July prices will drop
A sure sign that energy prices for customers will start falling imminently - as the energy companies have been profiteering for months already.
Wouldn't it be a really good idea if the government created massive storage tanks of gas and then when the prices go up they can still sell it to the public at a reasonable rate? These huge storage tanks could be kept under the ground or even under the sea!
Lock in to this Ovo rate now and you will probably be overpaying from July onwards - don't do it.
Think before you take this deal, more will probably follow in the middle of the year for less.
What’s Drake doing an energy deal for?
My energy use cost prediction is less than last year. They know the prices are going down 20/30% June/July and have reduced my d/d by 30% to reflect this. If you get a fixed now you may lose out when the price goes down 🤷
Which means they must be buying it cheaper on the wholesale markets already
How can this be a saving? Ono's unit charges are exactly the same as out current supplier Scottish Power. Tongue in cheek advertising to me, offering something that is no cheaper?
And given wholesale gas prices are the same as in 2021 they could halve that and still make a profit....
I'm guessing that's known internally as the mug punter tariff.