Energy switch

Posted 5th Jul 2023

Hi All,

My OVO Energy Fixed rate has come to an end. I tried comparison websites but it says no deals available yet. OVO Energy is offering a 1 year fixed rate or a variable rate option. Is it better to stick to OVO Energy or look for another provider? Also, should I get a fixed rate or variable rate based on the current energy situation? Thanks.

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5th Jul
So Energy is offering a fixed deal a sliver cheaper than the new price cap. Martin Lewis gave it a lukewarm recommendation. Only available to new customers via Uswitch and offer is prone to being suspended. I'm a So customer, took a look at the unit prices and decided to pass.
5th Jul
We are in the same boat, our fixed price energy deal came to an end at the beginning of this month and I’m not sure whether to fix or not.
The deal we are being offered is 10ths of a penny different from the variable rate which is capped by ofgem, here is where I get uncertain, according to predictions the rate will go down again by 5% in October only to rise by 2% in January 2024 and no predictions for the march-June quarter.

I’m leaning on the side of not fixing (see what’s offered down the line) but I don’t know if that’s the right choice or if I should fix and have the certainty of a set price which may cost us more (probably by a £100 or so but maybe by only £11)

Either way our monthly direct debit goes from £60 up to £180

Author
5th Jul
Thanks for the detailed reply. Yes, we are on the same boat. I am also leaning towards variable rate. I have economy 7 setup but I might change it to Normal - not sure if it will make much difference.
5th Jul
I have just switched to Octopus via my sister's refer a friend link which will give us both a £50 account credit. I have also asked for a smart meter to be installed and then I will be looking to get on Octopus' Tracker or Agile tariffs as it is currently cheaper on those tariffs than the variable I am currently on.
5th Jul
I did the same last month and was just put on tracker the 1st july, definitely the best way to go currently (edited)
5th Jul
You just need to compare unit prices of any fix you are offered. Also take into account October price predicted to go down also. I wouldn’t rush to fix price either with prices due to go down again in October. Its pretty straightforward really.
5th Jul
If you put all your unit costs in Martin Lewis website energy tool it will assist you in that decision it’s really handy!

moneysavingexpert.com/uti…--/

My outcome was borderline worth switching to a deal, so I’m staying put
Author
5th Jul
Thanks for the link. I have economy 7 setup, is it better to switch to normal meter? The tool only allows to compare non economy 7 prices.
5th Jul
Personally I'd stick to variable rate. Unless you switch to Octopus then you could look to switch to their tracker tariff which follows the wholesale price. It's been averaging around 0.18p per Kwh for Electric and around 0.5p per Kwh for Gas.

Unless you're making use of the cheap hours or have storage heaters I'd definitely switch to standard meters.

Octopus variable rate is slightly under the price cap as well so may be worth switching to anyway.
11th Jul
i used compare and got home energy, it is slightly cheaper than shell, even after the govt rebate. edf is bad billing and shell is even worst at leaving. They recalculate the last bill and use a higher caloric value, what a crook. I do not know why they did that as I am leaving and it is extra and they always had the reading, but likes to recalculate to charge me £1.20 more lol so silly company. I guess if they did that to all customer is thousands, it is free money. Also check carefully the days charge as they add and deduct 1 or days lol

Home energy is ok, bill is simple, but i email why they took a whole months of payment when it is only 10days I just join them as £150+ overpayment is a lot. plus they are keeping one month in advance ie £200