Everything you need to know about our new prices

To help you understand what’s changing and why, we’ve put together a list of the most common questions you might have.

The energy price cap is set by Ofgem, the energy regulator, to make sure customers pay a fairer price for their energy. It’s made up of 2 main things:

  • The cost of energy – called ‘unit rates’. This is how much you pay for each kilowatt-hour of electricity and gas.
  • A daily fixed amount covering the cost of supplying your home with energy – called ‘standing charges’. This includes the pipes, power lines, and maintenance of your meters.

The energy price cap is reviewed by Ofgem, the energy regulator, every 6 months – in April and October. They do this to make sure customers pay a fair price for their energy. So these new prices will stay the same from 1 October to 31 March.

We make sure you always pay a fair price for your energy – and we’ll always let you know in advance if they change again.

There are lots of ways we can support you: visit our Coronavirus FAQs or get in touch with us – and together we’ll find the right solution for you:

If you’d like extra advice on saving energy you can call the Centre for Sustainable Energy on 0800 408 6601, or email ovo@cse.org.uk.

Head to our Help page and search ‘saving energy’ for guides, tips, and organisations that can help you save money on energy.

We’d be sad to see you go, but if you decide to switch away, you’ll stay on your current rates if your new supplier tells us within 20 working days of 1 October that they’re taking over your power.

Remember to pay off any negative balance you might have in your energy account before you leave us, to make sure your switch goes smoothly. We’ll let you know if there’s anything left to pay.

If everything’s paid off within 30 days, your switch can still go ahead and the new price change won’t affect you.

We keep our prices in line with the price cap set by the government, which is there to make sure energy costs are fair.

Unfortunately, the price of energy on the market has gone up recently. These prices work a bit like petrol prices – they can change depending on many things. Like how much energy we all use, and how much it costs to produce and get it into homes.

To reflect all these changes, the government is increasing this price cap from 1 October. This means our prices will go up too.

It depends on the type of meter you have:

  • If it’s a smart meter, there’s nothing you need to do – we’ll update your prices automatically on 1 October

  • If it's a traditional meter, your prices will be updated the moment you top up with your electricity key/gas card on or after 1 October