Business Energy from Ovo Energy
UK owned independent supplier Ovo Energy has a range of different business electricity tariffs to suit businesses of any size. Formed in 2009 Ovo has developed a strong reputation for innovation and service.
The Ovo Energy Checklist
Security
- Are their prices fully fixed? No, all contracts allow pass through of cost changes
- Do they include metering and transportation costs in the price? Yes
- Do they include FIT and RO and CFD in the price? Excludes CFD
- What is their back billing policy? Anything up to six years
- Do they require a letter of authority? Yes
- Does the contract lapse on change of tenancy? Yes
Transparency
- Is your contract end date on the invoice? Yes
- Is your termination date on the invoice? Yes
- When will your renewal letter arrive? Awaiting Clarification from Ovo Energy
- When do you need to terminate? Awaiting Clarification from Ovo Energy
- Do they require termination letter by recorded delivery? Yes
- Will they rollover your contract? No
- How high are the out of contract rates? Awaiting Clarification from Ovo Energy
Convenience
- Do they mandate Direct Debit payment terms? Yes
- What are their Direct Debit terms? Variable, Monthly
- Do they offer Cash / Cheque payment terms? No
- Do they support reduced rate VAT declaration? Yes
- Do they bill monthly or quarterly? Monthly
- Do they provide online billing? No
Services
- Do they install smart meters as part of the supply contract? No
- Do they support existing smart meters with full functionality? No
- Do they provide New Connection & Upgrade Services? No
- Do they support IGT meters? No
- Do they support all electricity profiles including half hourly? No
- Do they support related and aggregated meters? No
Environmental
- Do they offer green and renewable products? No
- What is their Fuel Mix? 22.7% Gas, 7.0% Nuclear, 39.3% Coal, 26.1% Renewable
Other things to know about Ovo Energy:
The Bristol based business:- Offers Fixed price contracts;
- Features a unique seven-day cooling off period;
- Will only welcome customers with a credit score (Delphi) of 35 or above;
- Provides 15% renewable energy as standard;
- Offers options for 100% renewable energy;
- Provides paperless monthly billing;
- Operates a UK based call centre;
- Will take on existing smart meters however these will be treated as traditional manually read meters;
- Operates a Fair Price promise, where a customer is able to switch to a cheaper Ovo tariff before their renewal contract starts if Ovo launch a cheaper price;
Security
Click on the following link to access Ovo Energy’s latest contract terms for business energy customers: Ovo T&C’s Are Ovo Energy’s contracts fully fixed? No, all elements of the CNG price can be passed through. This means that when you agree a contract with CNG the price can change through the contract term to reflect additional costs. In addition Ovo Energy contracts do not currently include CFD costs.Commodity: Inclusive, Variable Transportation: Inclusive, Variable Metering: Inclusive, Variable FIT: Inclusive, Variable RO: Inclusive, Variable CFD: Excluded, Variable
Ovo Energy also reserves the right to amend the terms of the contract in exceptional circumstances. These include:- Where a change in law occurs affecting delivery of the contract.
- Where the customer fails to fulfil their obligations under the contract.
Back billing and Ovo Energy
Ovo Energy is not currently signed up to the Energy UK Back Billing standards. This means that Ovo are able, under the Limitations Act, to back bill their customers for anything up to 6 years. Many suppliers have voluntarily limited their back billing rights to two years and in some cases a single year. Ovo are therefore one of the less amenable suppliers in this area. To find out more visit our Guide to Back billing.Ovo Energy and Letters of Authority
In order to act on your behalf in securing your business a great energy deal Ovo Energy require us to have a signed Letter of Authority from yourselves. The fastest way to authorise us to work on your energy supply arrangements is to use our eSign service to agree our Evergreen Letter of Authority.Change of Tenancy and Ovo Energy
Moving into a premise is known as a Change of Tenancy in the business energy market. It has also been termed a Change of Occupier or is known by its acronyms CoT and COO. However it is referred to, the opportunities it opens up are the same. This is great news for deal seekers. Whilst the existing supplier is obliged to continue to provide energy to the new occupier, the occupier is not obliged to take out an extended contract with that supplier. Indeed a Change of Tenancy customer has total freedom of movement and is free to accept a contract with a supplier of their choice There are however of course a number of rules and requirements. Firstly, as the new occupier, if you use energy you will need to pay for it, regardless of your contractual status. Secondly, you will need to identify as quickly as possible the identity of the existing supplier Thirdly, you will need to field calls from sales organisations and the existing supplier themselves offering you contracts of varying lengths to continue or to begin to supply the premises. As a result as a new occupier you will need to agree a new contract either with the existing supplier or with a new supplier of your choice. Not only that but you will need to inform the existing supplier as quickly as possible that you are the new tenant to prevent you being held liable for charges incurred by the previous occupier should they not have ended their agreement satisfactory. It can prove a real headache knowing whom to trust – whether it’s the old tenant, the landlord the current supplier, the pushy salesman ringing, knocking and emailing, the prospective new suppliers. That’s where Business Juice comes in, by working on your behalf, identifying your existing supply arrangements, reporting your change of tenancy, ensuring you are not held liable for costs not incurred before your occupation and benchmarking contracts for your selection we can help you save time, money and a whole lot of stress.eSign – Fast, Convenient Online Approval
The fastest way to authorise us to work on your energy supply arrangements is to use our eSign service to agree our Evergreen Letter of Authority. We’ll take care of all correspondence, handle all the loose ends and enable you to focus on establishing your business in its new premise. And what’s more once your contract is in place we’ll manage your supplier relationship from beginning to end, all part of the Business Juice service.Business Juice Top Tip Always ensure that you take opening meter readings on the day, or as close as possible to the day, that you move into the premises to ensure that you only pay for the energy that you use.
Transparency
Cooling off with Ovo Energy
Uniquely in the industry Ovo Energy offers a short 7-day cooling off window after you first agree your contract. During this period you can reflect on whether your Ovo Energy contract is right for your business. However once the ‘cooling off’ period has ended you are, as with any other supplier, locked into the contract for its full term. Where to find your contract end date on your Ovo Energy bill Your Ovo Energy Invoice places the contract end date on the first page of the invoice, this is the summary page and the date is located on the upper right hand side. In addition the date by which termination is required to ensure freedom of movement at contract end it also presented in this section. Ovo Energy refer to this as “Contract renewal period begins”. You will need to have terminated in advance of this date to have freedom of movement at contract end. If in doubt feel free to fax us your bill on 0845 387 5701 or send it to hello@businessjuice.co.uk and we will help locate the information for you. When to expect your Ovo Energy renewal letter Ovo Energy sends their renewal letter to customers around 90 days in advance of the contract end date. This will contain Ovo Energy’s proposal for your rates for the coming period. It may provide a variety of options or a single price. It will however not be the most competitive price available in the market as the renewal letter is designed for customers who don’t use an energy broker and as such are priced at a higher level than can be obtained in the market.Business Juice Top Tip Every Business Juice client receives a unique key facts statement detailing all there is to know about their energy contract including all the important dates relative to your deal. Sign up today and take control with Business Juice.
Terminating with Ovo Energy
You are not required by Ovo Energy to provide written notice of your intent to terminate your contract at the end of its fixed period. Take advantage of this freedom of movement by allowing us to provide you with a range of market leading options at the right time to suit your business.Rollover contracts and Ovo Energy
Ovo Energy does not operate a policy of auto-rollover contracts. Now, when as a Ovo Energy customer, your contract comes to an end, if you have not contacted Ovo Energy or have not accepted their renewal offers you will simply be placed on their ‘”Out of contract” rates. The “Out of contract” rates will be more expensive than a “Fixed Price Plan” but it will allow you to leave at any time. Of course it makes sense not to get to this point in the first place and so contracting well in advance is always recommended as even a short term stay on a “Out of contract” rates will be significantly more expensive than other options. At least however you can be safe in the knowledge that if you do make a mistake and fail to contract properly the cost of your error can be minimised. However by using Business Juice you can avoid the potentially costly mistake of being exposed to variable rates. To find out more about rollovers visit our Guide to Rollover Contracts.Terminating but remaining on supply with Ovo Energy
If your business energy contract with Ovo Energy ends and you fail to leave Ovo Energy’s supply you will be placed on Ovo Energy’s Out of Contract Rates. Don’t be caught out! By using Business Juice to manage your energy contracts we will terminate and manage your new contract seamlessly to ensure you avoid penalty rates.Ovo Energy and Out of Contract Rates
Ovo refer to their Out of Contract rates as ‘default’ rates. Ovo do not currently make their out-of-contract rates publicly available, although many suppliers do there is not a condition in their supply licence to require them to do so. However these are likely to be at, or more than, 20p/kWh and 50p/day. Even one week exposed to this level of charges mounts up, that’s why clients taking our contract life management service makes sense: removing your exposure risk and letting you focus on your business confident in the knowledge that your energy contracts are in safe hands. To find out more visit our Guide to Out of Contract RatesConvenience
Ovo Energy mandate Monthly, Variable Direct Debit meaning the amount you pay directly relates to the volume of energy you consume each month. Ovo Energy does not offer cash/cheque payment terms. To find out more visit our Guide to Supplier Payment Terms Ovo Energy operate a policy of billing their customers on a monthly basis. Ovo Energy do not currently offer their customers online billing. This means Ovo Energy’s customers will continue to receive paper invoices. Where to find your metering information on your Ovo Energy bill Your Ovo Energy Invoice places the meter point identifying S Number on the first page of the invoice in the top right hand corner above “Contract end date”. If in doubt feel free to fax us your bill on 0845 387 5701 or send it to hello@businessjuice.co.uk and we will help locate the information for you.Services
Ovo Energy & Smart Meters
In line with the mandated rollout of smart meters Ovo Energy installs meters for Profile 05-08 electricity customers and gas customers consuming more than 732,000 kWh per annum. Ovo Energy does not however currently install smart meters for Profile 03-04 customers and gas customers consuming less than 732,000 kWh per annum. Also Ovo Energy will inherit smart meters of any type but will not support the meter’s smart functionality. This means the meter will be treated as ‘dumb’ and will require manual meter reading. To find out which suppliers meet your smart metering needs call us on 0800 051 5770. Go one step better and by appointing Business Juice to manage your energy contracts you can take advantage of our smart meter offers. For more information on Suppliers’ policies on smart metering visit our Guide to Suppliers & Smart Meters.Ovo Energy & New Connections and Upgrade services
Ovo Energy do not currently provide new connections and upgrade services to either existing or potential customers. To find out which suppliers meet your connections needs call us on 0800 051 5770. Go one step better and by appointing Business Juice to manage your energy contracts you can take advantage of our management fee free new connections and upgrades offer.Ovo Energy & IGT Meters
Ovo Energy does not currently support meters supplied via IGT networks (Independent Gas Transporter). If your gas supply is delivered via an IGT network then Ovo Energy cannot offer you a gas supply contract. To find out which suppliers meet your IGT needs call us on 0800 051 5770.Ovo Energy & Supporting Meter Types
Ovo Energy only supported a limited range of meters. They do not support meter types such Half Hourly (HH), Maximum Demand (MD), Seasonal Time of Day (STOD) or ‘related’ and ‘aggregated’ meters. Neither do they support meters supplied via IGT networks (Independent Gas Transporter). Ovo Energy do however support non-IGT gas meters and all standard electricity meters.Environmental
Ovo Energy do not currently provide renewable or green energy products within their portfolio. Neither do they install smart meters as part of their contractual terms. For the reporting period 2013/14, Ovo Energy’s Fuel Mix was:- Coal: 39.3%
- Gas: 22.7%
- Nuclear: 7.0%
- Renewable: 26.1%
- Other sources: 4.9%
- And produced CO2 of 486g/kWh and High Level Radioactive Waste of 0.0006g/kWh
- Coal: 34.0%
- Gas: 25.6%
- Nuclear: 21.6%
- Renewable: 16.7%
- Other sources: 2.1%
Business Juice Top Tip By selecting a supplier with a fuel mix that suits your business’ environmental credentials you can gain access to a renewable solution without paying premium green prices. By using Business Juice we can match up your needs with appropriate the fuel mix and enable your business to take support renewable initiatives.To find out more visit our Guide to Fuel Mix.