OVO Energy is one of the UK's largest independent energy suppliers. The company follows the motto 'Cheaper, Greener, Simpler'
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OVO Energy supplier rating 2018
In uSwitch's latest customer survey of more than 17,000 UK households, OVO Energy scored four-and-a-half stars out of five. The supplier scored 83% overall in areas such as transfer process, value for money and customer service.
About OVO Energy
OVO Energy's philosophy is to keep things simple. They offer 33% renewable electricity on their plans as standard, with the option of either online account management or paper bills with every plan.
The vision for the independent supplier came together around a kitchen table in the Cotswolds and its mission statement is to build ‘the UK’s most trusted energy company.’ Customers are given a 3% interest reward paid on their credit balances.
OVO Energy’s customer service teams are based in the UK and pride themselves on providing clear and easy to understand bills.
The supplier also has a charitable arm with its OVO Foundation, working with Cool Earth to protect hundreds of thousands of rain forest in the Amazon.
Learn more about OVO Energy in our Meet the Small Suppliers interview.
In September 2018, OVO Energy announced it would be increasing energy prices for variable rates tariffs, as well as removing discounts for online account management.
The gas and electricity supplier stated that due to a 15% rise in wholesale energy costs. The rise would take effect 17 October, 2018.
In January 2015, OVO announced it would cut prices of its dual fuel standard plans by 10.4%, effective 1 March. This would save the average household about £65 per year.
The news came amongst a flurry of price drops from the big six, who cut prices on average by about 4%, citing the recently reduced costs of wholesale gas prices.
Valentine's Day 2014 saw OVO Energy cut the price of its Cheaper Energy Fixed tariff and subsequently top the energy best buy table. They ran an advertising campaign highlighting this change using the slogan: "Roses are red, Violets are blue, Dump the 'Big Six', OVO loves you".
On the 29th of June, OVO decreased it's average prices by 4.5% for dual fuel customers to £1,088. This represents a 4.8% reduction in the price of electricity, and a 4.4% reduction in the price of gas.
On 4th March 2011, OVO put up the prices of its Green Energy Fixed Dual Fuel and Fixed Energy Dual Fuel tariffs.
Taking on Economy Energy customers
In January 2019, Ofgem announced that Ovo Energy would be the supplier of last resort for customers of Economy Energy, which had ceased trading earlier in the year.
Ovo Energy was chosen after a 'competitive process' was run by Ofgem to ensure the new supplier would provide a competitive tariff and honour existing credit balances and Warm Home Discount payments of Economy Energy customers.