Electric & Gas (2year fixed ending shortly)
Discussion
Currently with E-On and in a month we will be out of the 2 year price freeze. Looking at their quotes for 1 year fixed +9.5% and 2 year fixed +15% it seems steep.
Anyway have gone onto uSwitch found OVO energy which comes out Fixed for the same price as we currently pay. However their 2 year along with pretty much everyone else is a good 10-15% step up.
So firstly is OVO any good we have only ever gone with big 6 but we should save £150pa to move in more than happy to do that.
Secondly 2 year what's the risk in step up being so much? Is it worth going for 10-15% more for the first year and then safety for the second or ? Crystal ball time I guess but £ is getting stronger US is becoming more and more energy self sufficient so less demand on global prices.
2 year is basically £150 per year more than fixing with OVO for 1 year I'd need them to be £300 cheaper in year 2 to make it pay back.
Anyway have gone onto uSwitch found OVO energy which comes out Fixed for the same price as we currently pay. However their 2 year along with pretty much everyone else is a good 10-15% step up.
So firstly is OVO any good we have only ever gone with big 6 but we should save £150pa to move in more than happy to do that.
Secondly 2 year what's the risk in step up being so much? Is it worth going for 10-15% more for the first year and then safety for the second or ? Crystal ball time I guess but £ is getting stronger US is becoming more and more energy self sufficient so less demand on global prices.
2 year is basically £150 per year more than fixing with OVO for 1 year I'd need them to be £300 cheaper in year 2 to make it pay back.
OVO is as good/bad as the rest of them. If you never have a problem, its fine. If you do have a problem, it depends what it is and who you speak to to sort it out.
The electricity providers are a bit like mortgage providers. They 'guess' what the trend is going to be in a few years and price it accordingly.
Its up to the end user to decide if it is worth fixing and paying a premium for that time or taking the 'risk' on a variable rate instead on the basis that the prices wont rise that much.
How much are the variable rates coming out at?
The electricity providers are a bit like mortgage providers. They 'guess' what the trend is going to be in a few years and price it accordingly.
Its up to the end user to decide if it is worth fixing and paying a premium for that time or taking the 'risk' on a variable rate instead on the basis that the prices wont rise that much.
How much are the variable rates coming out at?
KTF said:
OVO is as good/bad as the rest of them.
Not sure this is entirely fair. I would think they are significantly better. I see them as the First Direct of the energy world.I moved to Ovo a few years ago and think their approach is very refreshing compared to the others I have had the misfortune of dealing with.
They pay interest on any credit balance. They have a general policy of simple pricing and are competitive with it.
They value your custom more than the others and don't try and screw you at renewal time. They appear to want to keep you as a customer for ever rather than for 1 year only.
To describe them as the same as the others is a tad unfair imho.
Bob
(I have no relationship with Ovo apart from being a customer)
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