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OVO Energy Tariffs

Understanding OVO Energy tariffs is important for effectively managing your business's energy consumption and securing the most suitable energy deal. Since energy costs significantly impact business expenditure, having knowledge about OVO Energy's tariff options allows businesses to make informed decisions tailored to their specific needs. By comparing pricing structures, contract terms, and additional services offered, businesses can identify the OVO energy tariff that best aligns with their energy consumption patterns, budget constraints, and operational requirements. This approach optimizes energy spending and enhances overall energy management strategy, ensuring businesses have the necessary resources to support their activities while minimizing unnecessary expenses.

Who is OVO Energy?

OVO Energy is a major business energy supplier and other services to numerous homes and businesses across the UK. OVO Energy tariffs cater to the energy needs of both individuals and businesses. Renowned for its diverse range of options, OVO Energy is a trusted choice for businesses seeking reliable energy solutions.

OVO Energy Tariffs

We provide a business gas comparison from OVO Energy tariffs, catering to businesses seeking either the stability of fixed rates or the flexibility of variable rates. Here's an overview of the main types of OVO Energy tariffs:

  • 1. Fixed-Rate Tariffs: OVO Energy Fixed tariffs provide stability by maintaining energy prices at a set rate for a predetermined period. This ensures that even if energy prices increase in the market, businesses' contract rates remain unchanged. It's akin to having a price guarantee, simplifying budgeting as businesses can anticipate their monthly expenses accurately. With OVO Energy Fixed Tariffs, businesses are shielded from unforeseen price hikes, offering peace of mind and financial stability.
  • 2. Variable Rate Tariffs: OVO Energy variable tariffs allow energy prices to fluctuate based on market conditions. When energy prices decrease, businesses pay less, but if prices rise, energy bills could increase accordingly. While this setup offers flexibility as businesses can adjust their energy plans in response to market changes, it also means that energy bills may be less predictable. However, with OVO Energy variable tariffs, businesses have the freedom to switch to different OVO Energy tariffs or other energy suppliers without incurring penalties, empowering them to have greater control over their energy costs.
  • 3. Deemed or Out-of-Contract Tariffs: If businesses haven't actively selected an energy tariff, they may find themselves on an OVO Energy deemed contract. This typically occurs when businesses move into a new property already supplied by OVO Energy and haven't chosen a new tariff. OVO Energy deemed tariffs often come with higher rates than standard tariffs, so it's wise to switch to a better OVO Energy tariff as soon as you realize you're on a deemed contract. This helps avoid paying more than necessary for energy usage.
  • 4. Green Tariffs: OVO Energy's green energy tariffs for businesses are dedicated to sustainability. These tariffs support renewable energy sources such as wind and solar power, enabling businesses to lessen their carbon footprint and contribute to environmental conservation efforts. By choosing OVO Energy green tariffs, businesses not only align with their corporate social responsibility goals but also showcase their dedication to environmental stewardship to customers and stakeholders.
  • 5. Business Electricity and Gas Contracts: OVO Energy offers tailored energy contracts designed for businesses of all sizes, providing flexibility in pricing structures, contract lengths, and additional services to meet specific needs. Whether it's a small business or a large corporation, OVO Energy tariffs are crafted to accommodate requirements and assist businesses in managing energy costs efficiently. These contracts empower businesses to select the pricing structure and contract length that aligns best with their needs, supplemented by additional services to support their energy requirements.

OVO Energy Tariffs in 2024

In 2024, OVO Energy Tariffs saw a single increase in line with Ofgem's energy price cap. Initially, the price cap remained stable due to its reliance on broader wholesale energy costs. However, a significant spike in wholesale prices during the autumn of 2021 led to a substantial increase in the price cap. To mitigate the impact on consumers transitioning to standard tariffs, the government introduced the Energy Price Guarantee, ensuring households paid a subsidized rate of £2,500 per year. With wholesale energy prices now decreasing, Ofgem reinstated the price cap at £2,074 from July 2023. Despite dropping to £1,834 in October 2023, it rose again to £1,928 for the period from January to March 2024.

Period Price cap level Energy Price Guarantee level OVO standard variable price
April 2019 - October 2019 £1,254 N/A £1,254
October 2019 - April 2020 £1,179 N/A £1,177
April 2020 - October 2020 £1,162 N/A £1,162
October 2020 - April 2021 £1,042 N/A £1,042
October 2019 - April 2020 £1,179 N/A £1,177
April 2021 - October 2021 £1,138 N/A £1,138
October 2021 - April 2022 £1,277 N/A £1,276
April 2022 - October 2022 £1,971 N/A £1,970
January 2023 - April 2023 £4,279 £2,500 N/A (SVT capped at £2,500 under EPG)
April 2023 - July 2023 £3,280 £2,500 N/A (SVT capped at £2,500 under EPG)
July 2023 - October 2023 £1,976 £3,000 £1,975
October 2023 - January 2024 £1,834 £3,000 £1,830
January 2024 - April 2024 £1,928 £3,000 £1,928

Why Choose OVO Energy?

  • • Reliability: OVO Energy is renowned for its commitment to high service standards and reliability as a leading business energy supplier. Businesses can trust OVO Energy tariffs to deliver consistent and quality energy services, ensuring uninterrupted support for their operations.
  • • Customer Service: OVO Energy offers comprehensive customer support through various channels, including phone, email, and online assistance. Businesses can rely on responsive and knowledgeable customer service representatives to address inquiries promptly and resolve any issues efficiently.
  • • Smart Solutions: OVO Energy Tariffs provide access to cutting-edge smart meters and energy-saving devices, empowering businesses to manage and reduce their energy usage effectively. By harnessing smart technology, businesses can gain valuable insights into their energy consumption patterns and identify opportunities for optimization and cost savings
  • • Rewards: As valued OVO Energy customers, businesses can enjoy rewards and discounts on various services and products. These incentives enhance the overall value proposition of OVO Energy tariffs, providing businesses with additional benefits beyond energy savings.

OVO Fixed Price Deals and Tariffs

OVO Energy offers three one-year fixed-rate tariffs, each tailored to different needs. In addition to the basic one-year fixed tariff, there's an option that includes a boiler cover and another with an inclusive Greener Energy upgrade, utilizing 100% renewable electricity.

With an OVO Energy fixed-rate tariff, your unit rate for electricity and gas remains constant for one year from the signup date. However, if you decide to switch before the contract term ends, you'll incur exit charges. These charges amount to £75 for each fuel type, totaling £150 if you have both gas and electricity with OVO Energy.

At present, OVO Energy's fixed tariffs are exclusively available to existing OVO customers. New customers will be placed on the Variable tariff.

Economy 7 and Economy 10 Tariffs

OVO offers Economy 7, an OVO energy tariff that allows you to benefit from cheaper business energy rates depending on the time of day/night you use energy. You’ll pay less per kWh for any energy used during the night. OVO does not currently offer economy 10 tariffs.

Dual Fuel Tariffs

OVO offers dual fuel tariffs, allowing you to get gas and electricity from the same supplier. This offers convenience, easier management of bills, and potential savings through dual fuel discounts.

Tariffs for Existing Customers

Existing OVO customers can switch OVO Energy tariffs quickly and easily online, with the process taking just 24 hours. Additionally, existing customers benefit from our Rewards customer benefits scheme, which includes discounts at high-street restaurants, on OVO products, as well as giveaways and prize draws.

For more information or to get started with OVO, visit our website or contact our customer service team. We're here to help you find the perfect energy solution for your home or business!

Fixed-Rate Tariffs:

Fixed-rate tariffs are the most common type of tariff, offering businesses the advantage of locking in more affordable electricity prices. Typically associated with a 1 to 4-year contract, these tariffs provide a stable rate throughout the contract duration, ensuring predictability in energy costs. However, it's important to note that fixed-rate tariffs often come with limited flexibility during the contract period.

Variable Rate Tariffs:

Electricity prices that fluctuate with the market provide a flexible option for businesses. While this approach offers adaptability, it's crucial to be aware that savings are not guaranteed, as prices can vary based on market conditions.

Green Energy Tariff:

A Green Energy Tariff is an ideal choice for environmentally conscious businesses seeking to align their energy consumption with sustainability goals. This type of tariff supports green initiatives by sourcing electricity from renewable energy sources. Green Energy Tariffs are available from various suppliers, allowing businesses to make eco-friendly choices in their energy consumption.

Rolling Contracts:

Rolling contracts, often featuring the most expensive unit rates, are employed when a business hasn't negotiated a new electricity contract. These contracts operate on a rolling basis and should be periodically reviewed to prevent overpaying. It's crucial for businesses to stay vigilant and consider negotiating a more favourable contract to optimize cost efficiency.

Compare Business Electricity Prices here with Lloyd Energy within 60 Seconds.

To see the latest business electricity prices, you should compare regularly. Assessing your tariff and switching to a better deal can save your business money while also contributing to your green goals. With business electricity rates stabilized in 2023, now in 2024 it is the perfect time to explore your options and cut down on costs. Let our energy experts do all the hardwork.

Our energy consultants will compare the energy prices accross different business electricity suppliers in your location and help your business grab the cheapest electricity tariff which will be best for your business.

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